EQT Real Estate Closes Sale of 8.7 MSF Portfolio
This disposition reportedly marks the largest industrial transaction so far this year.
EQT Real Estate has completed the sale of a 25-property, 8.7 million-square-foot logistics portfolio located in major distribution hubs in what it calls the largest U.S. industrial transaction to date this year. Artemis Real Estate Partners purchased the assets.
JLL Capital Markets has facilitated $515 million in acquisition financing through Wells Fargo, which acted as the sole lead arranger, sole bookrunner and administrative agent for the transaction.
The Radnor, Pa.,-based firm, whose parent is Swedish investment giant EQT AB, completed the disposition on behalf of its EQT Real Estate Industrial Core-Plus Fund II. The portfolio spans 13 key U.S. distribution markets, including Atlanta, Chicago, New York, Phoenix and Texas. EQT notes they are strategic hubs that represent a broad cross-section of national logistics demand.
The firm has assembled and managed the portfolio since 2020. Most of the properties were developed after 2000. The assets provide scale, geographic diversification and strong tenant retention, reflecting EQT Real Estate’s focus on making investments in resilient logistics platforms in key U.S. submarkets.
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The properties feature an average clear height of 31 feet and efficient loading configurations, reflecting current industrial market trends in modern logistics facilities. The buildings serve a mix of high-quality tenants across e-commerce, industrial and retail supply chain sectors.
EQT only disclosed the location of one of the assets—998 Gerdt Court in Greenwood, Ind., a 132,000-square-foot warehouse acquired in September 2017. The Class A building was completed in December 2016. Situated on more than 10 acres, the rear-load asset has a 32-foot clear height and 50-foot by 60-foot column spacing. The building has one drive-in door and 12 dock-high doors. Located south of Indianapolis, the property is 1.5 miles to Interstate-65 and 8.2 miles to I-465. It is just over 21 miles from Indianapolis International Airport and is also close to hubs for FedEx and UPS.
Matthew Brodnik, global chief investment officer at EQT Real Estate, said in prepared remarks the team identified an opportunity to assemble and manage a portfolio with strong fundamentals and significant future upside. The sale reflects investor appetite for stabilized institutional logistics properties with long-term demand drivers and limited supply.
EQT Real Estate was advised by JLL’s Senior Managing Directors John Huguenard and Trent Agnew, and Director Will McCormack.
Recent portfolio dispositions
The sale of the 25-property portfolio comes shortly after EQT Real Estate sold another U.S. industrial portfolio totaling 4.2 million square feet in two separate deals. The properties consisted of 33 last-mile and bulk distribution buildings partly in the Southeast, including Miami; Nashville, Tenn.; Raleigh-Durham, N.C.; Louisville, Ky.; Savannah, Ga.; Richmond, Va.; and Tampa, Fla. Other assets were located in Chicago, Indianapolis, Philadelphia and New York City. The buildings in that portfolio ranged in size from 16,000 square feet to more than 500,000 square feet and were near key interstates, international airports and marine port terminals.
Buying spree this year
Earlier this year, EQT rebranded its real estate platform to EQT Real Estate. At the same time, the firm shut down its U.S. multifamily fund division and ceased making investments in office and life science assets as it focused primarily on industrial investments. The company has been busy acquiring industrial assets across the U.S. throughout 2025.
Late last month, EQT Real Estate Logistics Value Fund VI and EQT Real Estate Industrial Core-Plus Fund IV acquired an 11-building, 4.8 million-square-foot logistics portfolio across five major U.S. distribution markets. Hillwood previously owned the assets, according to Yardi Matrix information.
The Class A properties are in Central Pennsylvania; Houston; Greenville-Spartanburg, S.C.; Jacksonville, Fla.; and Indianapolis. Properties in the portfolio included two buildings totaling 507,100 square feet in Core5 Logistics Center at Codorus Creek in York, Pa.; and three buildings at Pinnacle Logistics Park in Houston totaling 529,340 square feet. One of the largest assets was the 672,944-square-foot Building 4 at Park 130 at Whitestown in Whitestown, Ind.
Also in October, EQT Real Estate acquired an 11-property industrial portfolio in New Jersey totaling about 894,000 square feet.
In August, the company purchased a 945,400-square-foot industrial building for $89.1 million from Red Rock Developments in a deal brokered by Colliers.
A month earlier, EQT Real Estate acquired a 2.4 million-square-foot portfolio from Mapletree Investments for $241.2 million. The portfolio included 10 bulk warehouses situated in the Sun Belt near growing innovation hubs across Florida, Georgia and Texas. The deal is expected to fully wrap up by the end of this year.
EQT Real Estate owns and operates more than 2,000 properties and 400 million square feet worldwide. Over the last 12 months ending in the third quarter of 2025, the investor has acquired roughly €2 billion ($2.3 billion) in real estate assets.
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