Global investment firm EQT Real Estate has sold off a large Southeast industrial portfolio.
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The global investment firm sold a 10M SF logistics portfolio spanning 46 buildings in the Carolinas, Georgia, Florida and Alabama, the company announced Thursday. The buyer was California-based LBA Realty.
The sale was made through the company's EQT Real Estate Industrial Value Fund V. The firm didn't disclose the sale price.
The Class-A industrial portfolio averages 230K SF per building and can accommodate a wide range of uses, from third-party logistics to regional distribution to advanced manufacturing. The buildings sit in 10 Southeast markets, including Charlotte; Savannah, Georgia; Birmingham, Alabama; and Tampa, Florida.
EQT said industrial properties in the region have become more valuable as it has gained population this decade.
All age groups in the South grew faster than in any other region between 2020 and 2025, with the Southeast accounting for many of the fastest-growing counties in the country, according to a June U.S. census report. In those five years, the South experienced a 6% population growth, nearly double the nation's growth at 3.1%
"People and industry continue moving to the Southeast, and logistics demand has followed both," EQT Global Chief Investment Officer Matthew Brodnik said in a statement.
"We identified that theme clearly when we acquired this portfolio, and our local teams did fantastic work adding value through leasing and hands-on management, building by building," he said. "With the region experiencing sustained positive tailwinds, the transaction marks a natural point to crystallize our investment while offering a meaningful runway for its next phase of growth.”
JLL's John Huguenard, Trent Agnew and Will McCormack represented EQT in the deal.
EQT has been active on both the buyer and seller sides of industrial deals over the past year.
Earlier this month, the company sold a 4.4M SF portfolio consisting of 20 industrial assets in the Midwest to Houston-based SparrowHawk for just under $440M. In November, it sold an 8.7M SF industrial portfolio spanning 13 markets for an undisclosed price.
EQT also purchased an industrial portfolio this month from Rexford Industrial Realty for $1.2B. And in May, the firm announced it would partner with cold storage company Americold Realty Trust and invest $1.1B into a 12-building, 124M SF cold storage portfolio.
EQT has $58B in assets under management, owning and operating more than 2,000 properties spanning 450M SF.
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