EQT Secures $268M for Industrial Portfolio Acquisition

EQT Real Estate has secured a $268 million acquisition facility for its Core Plus Fund IV. ING Capital provided the fully underwritten note, which supports the purchase of an 11-asset industrial portfolio across six U.S. markets.

Totaling 2.8 million square feet, the portfolio consists of seven bulk distribution properties, three light industrial assets and one last-mile facility. The portfolio is fully leased to tenants boasting an average weighted lease term of seven years. The roster spans from food and beverage manufacturers to packaging, bulk transport, e-commerce and aviation.

The average completion year for properties in the portfolio is 2014. Additionally, the assets feature 33-foot average clear heights and an average of 22 dock high doors.

EQT continues industrial deal streak

This loan closing comes during a busy month for EQT. The company recently sold a six-asset, 954,072-square-foot industrial portfolio in metro Indianapolis to MLG Capital. That portfolio was 90 percent leased at the time of the deal. This month, EQT also purchased a three-property, 667,024-square-foot industrial portfolio in San Bernardino, Calif. from Cabot Properties. Currently, EQT Real Estate’s overall portfolio amounts to $59 billion in assets under managements.

EQT closed its Industrial Core Plus Fund IV in late 2022, at $3 billion and over its initial $2.5 billion target, at a time when the U.S. industrial market was close to its peak. Since then, the vehicle was part of several large acquisitions, the list including an 11-asset, 8 million-square-foot portfolio sold by Hillwood in October 2025. Late last year, the fund also bought an Amazon-occupied, 1 million-square-foot facility near Scranton, Pa., and an 809,000-square-foot asset in Berks County, Pa.