EQT Exeter has sold a $6.8bn (€5.9bn) US industrial portfolio to a newly formed global partnership.
The portfolio, which consists of 328 facilities totalling 70.5m sqft, represents one of the largest US industrial real estate transactions ever.
The assets – which had been put together through more than 100 transactions executed over three years – are located across the top 5 US distribution hubs of New York, Dallas, Atlanta, Chicago, and Los Angeles and the key e-commerce and air cargo hubs of Memphis, Indianapolis, Columbus, and Louisville.
EQT Exeter said the portfolio was sold on behalf of its private real estate funds, EQT Exeter Industrial Value Fund IV and related investment vehicles.
The unnamed buyer, ”a newly formed global partnership” has engaged EQT Exeter to continue operating and managing the properties, the manager said.
Ward Fitzgerald, partner and head EQT Exeter, said, “We are humbled to serve the teachers, firefighters, public workers, and so many others whose retirements depend on EQT Exeter’s commitment to success.
”I am extremely proud of the entire US EQT Exeter team for their tireless, gritty efforts in acquiring, developing, leasing, and stabilizing this high-quality portfolio, enabling us to continue our track record as one of the highest-performing real estate investment managers in the world.”
Fitzgerald said the transaction is the fourth multi-billion-dollar portfolio sale for EQT Exeter.
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