Mapletree Bags $241M for Industrial Portfolio
The 10-asset sale comes on the heels of another large disposition.
Mapletree Investments has sold a 2.4 million-square-foot industrial portfolio for $241.2 million to EQT Real Estate.
The portfolio includes 10 bulk warehouse properties situated in the Sun Belt, close to growing innovation hubs across Florida, Georgia and Texas. The transaction is scheduled to fully wrap up later this year.
The deal comes after Mapletree’s recent sale of a 1.8 million-square-foot shallow bay industrial portfolio comprising 30 properties across the country. Earlier this month, the company sold the collection including assets in Florida, Georgia, New Jersey, Texas and Pennsylvania to Faropoint in a $328 million deal, representing the buyer’s largest acquisition since its inception.
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As for the latest transaction, the seller previously held and operated the 10-property industrial portfolio through Mapletree US & EU Logistics Private Trust, a private fund launched in 2019 including $4.3 billion in properties across the Americas and Europe.
Senior Vice President Clayton Skistimas, Senior Managing Director Steve Silk, Managing Director Mark Chu, together with Directors Christina Buhl and Marc Alfert with Eastdil Secured worked on behalf of the seller.
On a buying spree
Meanwhile, EQT Real Estate, the recently rebranded EQT Exeter, has added multiple industrial collections since the start of the year. This month, through its Industrial Value Fund VI, the company picked up a 2 million-square-foot portfolio from CenterPoint Properties in a $264 million deal. The portfolio is in Manteca, Calif., and the transaction represented the largest commercial purchase in the submarket.
In May, the company purchased a 500,000-square-foot industrial campus in Fort Myers, Fla., in a $87 million sale. The property swapped from a partnership between Stonemont Financial Group and Geis Development.
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