EQT is pleased to announce that the EQT Real Estate Industrial Value Fund V ("EQT Real Estate") has completed the sale of a 46-building logistics portfolio totaling approximately 10.5 million square feet across the southeastern United States to an affiliate entity of California based LBA Realty.
The buildings sit in 10 Southeast markets spanning the Carolinas, Georgia, Florida, and Alabama: Charlotte, Greensboro, Greenville-Spartanburg, Atlanta, Savannah, Tampa, Orlando, Jacksonville Birmingham, and Huntsville. According to the latest U.S. Census Bureau estimates, each of these markets continues to experience strong population growth. That in-migration, together with the region's strong port, intermodal and interstate connectivity-anchored by the Port of Savannah, JAXPORT and Inland Port Greer, and by the I-85, I-95, I-75, I-20 and I-4 corridors-continues to translate directly into demand for logistics space.
Averaging roughly 230,000 square feet, the Class A buildings accommodate uses that run from third-party logistics and regional distribution to advanced manufacturing, supporting a diverse tenant base.
The portfolio is concentrated in the Southeast, where EQT Real Estate's local teams leased and managed the assets. The transaction offers immediate scale across some of the Southeast's most attractive logistics markets, establishing a meaningful presence in one of the country's leading regions for tenant demand.
Matthew Brodnik, Global Chief Investment Officer at EQT Real Estate, said: "People and industry continue moving to the Southeast, and logistics demand has followed both. 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. 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."
EQT Real Estate was advised by John Huguenard, Trent Agnew, and Will McCormack of JLL.
Contact
EQT Press Office, press@eqtpartners.com