The Middletown property, located at 3327 E Harrisburg Pike, was acquired for over $170 million, while the Portland asset at 1500 Shoals Way was purchased for $75 million
EQT Exeter’s non-listed, perpetual-life US real estate investment trust (REIT), EQT Exeter Real Estate Income Trust (EQRT), has made a significant investment of $245 million to expand its industrial asset portfolio. This acquisition includes two fully-let properties: a 1.2 million square foot facility in Middletown, Pennsylvania, and a 630,000 square foot asset in Portland, Tennessee.
The Middletown property, located at 3327 E Harrisburg Pike, was acquired for over $170 million, while the Portland asset at 1500 Shoals Way was purchased for $75 million. The acquisitions were financed through a mix of $91.2 million raised from the sale of Class E units to EQT Exeter Holdings US, the REIT’s sponsor affiliate, alongside debt financing. Ali Houshmand, the portfolio manager at EQRT, highlighted the REIT's dedication to investing in crucial sectors of the American supply chain. Houshmand stated that EQRT is focusing on acquiring industrial real estate to support the growth ambitions of its commercial tenants, which include prominent distributors and manufacturers. He highlighted EQRT’s tenant-centric, vertically-integrated strategy.
Since its August launch the prior year, EQRT has focused mostly on US commercial real estate that is stable and income-oriented. The trust aims to allocate approximately 80% of its investments in properties with business tenants, such as industrial and life-science facilities, and 20% in consumer-oriented assets like multifamily and self-storage properties.
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