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EQT Real Estate sells 10M SF logistics portfolio across Southeast
The deal covers 46 industrial buildings in 10 markets across the Carolinas, Georgia, Florida, and Alabama, and EQT did not disclose a sale price.
EQT Real Estate has sold a Southeast logistics portfolio totaling 10 million square feet across 46 buildings to California-based LBA Realty, the company said Thursday.
The properties span 10 Southeast markets, including Charlotte, Savannah, Georgia, Birmingham, Alabama, and Tampa, Florida, and EQT said the class-A portfolio averages about 230,000 square feet per building with flexibility for uses such as third-party logistics, regional distribution, and advanced manufacturing.
The transaction was executed through EQT Real Estate Industrial Value Fund V. EQT did not disclose the sale price, but said industrial properties in the region have become more valuable as population growth accelerated this decade.
EQT Global Chief Investment Officer Matthew Brodnik said people and industry continue moving to the Southeast, and that logistics demand followed, with the firm citing strong population gains for the region between 2020 and 2025.
The article also notes EQT has been active in industrial deals, including selling a 4.4 million square foot Midwest portfolio earlier this month and purchasing a 1.2 billion square foot industrial portfolio from Rexford Industrial Realty this month, with total assets under management of $58 billion.