EQT Exeter Wraps $6.8B Portfolio Deal

In a blockbuster $6.8 billion deal, EQT Exeter has closed the sale of a coast-to-coast U.S. portfolio, the company announced on Wednesday. Said to be one of the largest-ever U.S. industrial deals, the sale encompasses 22 million square feet of new product.

The properties span nine major markets, EQT Exeter said in a statement. Leading distribution markets include New York City, Atlanta, Dallas, Chicago and Los Angeles. Also represented in the portfolio are four major air cargo and e-commerce locations: Columbus, Indianapolis, Memphis and Louisville.

The 71 million-square-foot portfolio comprises 328 properties. EQT Exeter did not immediately identify the buyer, which the announcement described as a new global partnership. As part of the deal, EQT Exeter will continue to handle asset management, property management and leasing, the company said.

EQT Exeter was created early this year when the real estate affiliate of EQT AB, a Stockholm-based private equity firm, acquired Exeter Property Group in a $1.9 billion deal. Since then, the company has acquired office and industrial properties in such markets as Phoenix, Indianapolis and Philadelphia.

 The deal is the latest in a series of major industrial acquisitions. This fall, Starwood Capital, Mapletree and Equus Capital have all announced large portfolio deals.

Stay tuned to CPE for an in-depth report on this major deal.