EQT Exeter completes EUR 3.0 billion logistics portfolio sale - among the largest in European history
One of the largest European industrial real estate transactions ever, the portfolio consists of 132 high-quality, modern logistics properties totalling 2.2 million square metres, assembled through 102 transactions
During EQT Exeter’s ownership, the team executed 79 lease events, generating EUR 70.2 million in rental income; EQT Exeter will continue to lease, property manage, and asset manage the portfolio
The deal, which marks EQT Exeter’s fifth multi-billion sale, continues its record as the leading logistics investment manager and landlord globally
EQT Exeter is pleased to announce it has closed a EUR 3.0 billion, 2.2 million square metre logistics portfolio sale on behalf of its private real estate fund, EQT Exeter European Value Venture III. These properties serve the supply chains of major corporations, including facilities for “big box” regional distribution, e-commerce fulfillment, and last mile distribution. The portfolio spans major population centres and key e-commerce and air cargo hubs across Western and Central Europe.
With 16 European offices, EQT Exeter mobilized its deep local market knowledge and expansive industry relationships to assemble the portfolio through 102 transactions executed over three years. These investments were made on behalf of logistics value fund investors who sought value growth through development and leasing activities. With its unique vertical integration, including highly localized, fully in-house execution of design, development, and leasing, EQT Exeter: developed 762,000 square metres of the portfolio; leased 715,000 square metres of vacancy; and signed 205,000 square metres in renewals during the fund’s ownership period.
In line with EQT Exeter’s commitment to creating sustainable, future-proofed assets for its tenants, the 762,000 square metres of newly constructed properties will be environmentally accredited and are equipped with the newest renewable design features in the industry. As part of the reletting of existing space, EQT Exeter has taken several steps to reduce environmental impact and improve energy performance, including installing LED lighting and reflective roof materials, improving natural light features, and introducing sustainable urban drainage via stormwater retention schemes and pervious parking features.
Paul Rubincam, Partner and Head of EQT Exeter Europe, said, “This transaction, which marks our fifth multi-billion sale, builds on EQT Exeter’s decade-long track record as the leading logistics investment manager and landlord in Europe. We are proud to deliver another transformational deal for EQT Exeter's investors, and we look forward to our continued collaboration with the buyer, which has engaged us to continue managing and leasing the properties.”
Clifford Chance advised EQT Exeter, and Eastdil Secured and CBRE served as procuring brokers in this transaction.
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