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EQT Exeter realises €3bn from European logistics disposal

EQT Exeter has sold a €3 billion portfolio of 132 modern logistics properties in what is one of the largest ever industrial property transactions in Europe.

The assets have a total of 2.2 million sq m and have been sold on behalf of private real estate fund EQT Exeter European Value Venture III.

The portfolio has been acquired by an as yet unnamed investor represented by Eastdil Secured and CBRE. The buyer is understood to be Singapore’s sovereign wealth fund GIC, which has an existing joint venture with Exeter Property Group. The two businesses established a €300 million partnership in 2015 to invest in logistics properties in key European distribution hubs.

The EQT Exeter European Value Venture III properties include big-box regional distribution centres, e-commerce fulfillment, and last-mile distribution facilities and locations include major population centres and key e-commerce and air cargo hubs across Western and Central Europe, EQT Exeter said in a statement.

The deal is EQT Exeter’s fifth multi-billion sale and the assets were assembled through 102 transactions. EQT Exeter said that it has been retained to lease, property manage, and asset manage the portfolio.