EQT Real Estate Acquires 4.4M-SF East Coast Industrial Portfolio for $575M

EQT Real Estate, a real estate investment manager and developer specializing primarily in industrial properties, has acquired a 4.4 million-square-foot industrial portfolio along the East Coast for $575 million, seller Mapletree Investments announced Thursday. 

The deal marks Mapletree’s fourth U.S. warehouse portfolio divestment over the past nine months, bringing its total industrial dispositions to more than $1.2 billion, the firm said. 

EQT’s new industrial portfolio comprises 25 warehouse properties in Connecticut, Florida, Georgia, New Jersey, North Carolina, Pennsylvania, Tennessee, Virginia and Washington, D.C. Two of the addresses include 34 Dauphin Drive in Mechanicsburg, Pa., and 2721 White Horse Road in Greenville, S.C.

“We’re proud to kick-start 2026 with an outstanding outcome for our investors,” Richard Prokup, U.S. CEO at Mapletree, said in a statement. “This divestment reflects the successful execution of our closed-end fund strategy and illustrates the strength of our U.S. industrial platform. Looking ahead, we remain confident in the logistics sector’s long-term fundamentals as we advance new development opportunities nationwide to grow our pipeline.”

JLL’s John Huguenard, Trent Agnew and William McCormack represented Mapletree in the deal, while EQT Real Estate did not work with any outside brokers.

“This portfolio’s geographic diversification across key markets provides exposure to both infill last-mile facilities and regional distribution hubs serving major metropolitan areas,” Huguenard said in a statement to Commercial Observer.

The new sale includes 24 industrial assets previously held under the Mapletree U.S. & E.U. Logistics Private Trust fund, which had $4.3 billion in total assets under management at its inception, and one asset held under the Mapletree U.S. Logistics Private Trust fund, which launched in 2021 and had a portfolio of 155 logistics properties across the U.S. 

“This investment reflects our high-conviction, thematic approach to investing in infill logistics across the U.S., where we see strong long-term demand for well-located industrial assets,” Matthew Brodnik, chief investment officer at EQT Real Estate, said in a statement. “We believe the portfolio serves as a compelling addition to our U.S. logistics platform and look forward to building on the portfolio’s strong fundamentals through our active ownership approach.”

As of this month, EQT owns and manages a global portfolio of more than 400 million square feet across more than 2,000 properties, while Mapletree owns and manages more than 66 million square feet of industrial assets across the U.S. with a development pipeline of approximately 2.6 million square feet.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.