EQT Exeter Real Estate Income Trust Makes Strategic Acquisitions in Key U.S. Markets

EQT Exeter Real Estate Income Trust Makes Strategic Acquisitions in Key U.S. Markets

(IN BRIEF) EQT Exeter Real Estate Income Trust (EQRT) has acquired two industrial properties in the U.S. for over $245 million, including a 1.2 million-square-foot facility in Middletown, Pennsylvania, and a 638,000-square-foot facility in Portland, Tennessee. Both properties, built last year and fully leased on long-term agreements, are strategically located near major transportation hubs, supporting the growth of EQRT’s commercial tenants. The acquisitions were funded through the sale of Class E units and debt financing, reflecting EQRT’s focus on strengthening America’s supply chain and expanding its real estate portfolio in key markets.

(PRESS RELEASE) STOCKHOLM, 20-Aug-2024 — /EuropaWire/ — EQT Exeter Real Estate Income Trust (EQRT) has recently expanded its industrial property portfolio with two significant acquisitions, totaling over $245 million. The properties include a 1.2 million-square-foot facility in Middletown, Pennsylvania, acquired for more than $170 million, and a 638,000-square-foot facility in Portland, Tennessee, purchased for $75 million. Both properties, constructed in the past year, are fully leased with long-term agreements in place, underscoring their strong investment potential.

The Pennsylvania property is strategically located near major shipping hubs and transportation networks, including Harrisburg International Airport and the Norfolk Southern Rutherford Railyard. This prime location facilitates efficient distribution across the northeastern United States, making it a critical asset in America’s supply chain infrastructure.

Meanwhile, the Tennessee property benefits from its proximity to major highways and the rapidly growing Nashville market. Its location places it within a one-day trucking distance to half of the U.S. population, making it an attractive site for commercial tenants focused on nearshoring and expanding their local manufacturing operations.

Ali Houshmand, EQRT Portfolio Manager, emphasized the trust’s commitment to supporting the growth of its commercial tenants, which include leading distributors and manufacturers. “Our focus remains on acquiring industrial real estate that aligns with the strategic needs of our tenants, reinforcing America’s supply chain,” he stated.

The acquisitions were funded through a combination of proceeds from the sale of $91.2 million in Class E units to EQT Exeter Holdings US, Inc., an affiliate of EQRT’s sponsor, and additional debt financing. EQRT’s approach is centered on investing in properties that benefit from EQT Exeter’s extensive leasing relationships and its vertically integrated strategy.

As EQRT continues to expand its presence in key U.S. markets, it remains focused on acquiring properties that serve critical functions in the supply chain, life sciences, healthcare, and technology sectors. The recent acquisitions highlight EQRT’s strategic efforts to enhance its portfolio in rapidly growing regions, supporting long-term tenant growth and operational efficiency.

About EQT Exeter Real Estate Income Trust
EQT Exeter Real Estate Income Trust (“EQRT”) is an externally managed non-traded perpetual life REIT, which is designed to provide investors access to a global, vertically integrated real estate platform. Combining EQT Exeter’s heritage as a pioneer in the logistics industry and belief in the importance of innovation, EQRT will target real estate critical to the functioning of America’s supply chain and its ongoing leadership in research and development-driven sectors, including life sciences, healthcare and information technology.

Forward-Looking Statements Disclosure
Statements contained in this press release that are not historical facts are based on EQRT’s current expectations, estimates, projections, opinions or beliefs and speak only as of the date hereof. Such statements are not facts and involve known and unknown risks, uncertainties, and other factors. You should not rely on these forward-looking statements as if they were fact. These forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue,” “forecast,” or “believe” or the negatives thereof or other variations thereon or other comparable terminology. Actual events or results or EQRT’s actual performance may differ materially from those reflected or contemplated in such forward-looking statements as a result of various risks and uncertainties including those relating to future economic, competitive and market conditions and future business decisions by EQRT. No representation or warranty is made as to future performance or such forward-looking statements. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by EQRT or any other person that EQRT’s objectives and plans, which EQRT considers to be reasonable, will be achieved.

Except as otherwise required by federal securities laws, EQRT does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities

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Source: EQT