EQT Real Estate sells 4.4M sq ft Midwest logistics portfolio

EQT Real Estate Industrial Value Fund V has recently sold a substantial 20-property logistics portfolio, covering 4.4 million square feet in six Midwest cities. The properties, ranging from modern bulk distribution centers to infill light industrial buildings, cater to sectors such as e-commerce, third-party logistics, and distribution.

Acquired between 2020 and 2023, EQT Real Estate invested in the portfolio, undertaking leasing activities and capital projects including building expansions, renovations, and roof replacements. The buildings boast cross-dock and rear-load configurations with an average clear height of around 30 feet, strategically located within a day's drive of nearly half of the U.S. population.

Matthew Brodnik, EQT Real Estate's Global Chief Investment Officer, highlighted the team's familiarity with the assets and their submarkets, which guided the acquisition, leasing, and improvement of the portfolio. JLL advisors John Huguenard, Trent Agnew, and Will McCormack provided guidance during the transaction. However, the buyer and financial terms of the sale remain undisclosed.