EQT expands its logistics footprint in the United States! Splurging $575 million to acquire warehouses on the East Coast, focusing on the benefits of e-commerce and logistics.

Mapletree Investments Pte has agreed to sell a portfolio of warehouses on the East Coast of the United States to global real estate investment and operating leader EQT Real Estate for approximately $575 million. The transaction includes 4.4 million square feet (approximately 412,000 square meters) of real estate assets, encompassing a total of 25 warehouses from Connecticut to Florida, according to statements from both parties. These assets belong to two closed-end trust funds. The majority of the assets are in the Mapletree US & EU Logistics Private Trust, with one property in the Mapletree US Logistics Private Trust. The transaction is expected to close this month and will be the fourth sale of US logistics assets made by the company in the past year. EQT Real Estate stated that this acquisition expands its filling logistics assets in the United States, noting the continued growth in warehouse space demand related to e-commerce and third-party logistics tenants. Mapletree launched the US & EU Logistics Private Trust in 2019, managing assets worth $4.3 billion overall, covering as many as 262 properties in the Americas and Europe. The US Logistics Private Trust was established in 2021, managing assets worth $3.3 billion, covering 155 US property assets. Mapletree owns and manages over 66 million square feet of industrial real estate in the United States, with approximately 2.6 million square feet under development. According to statements from both parties, the US business represents about 25% of its approximately $60 billion in managed assets as of March 31, 2025. Jones Lang LaSalle Inc. represented Mapletree in this transaction. Mapletree Investments Pte Ltd is a global real estate development, investment, capital management, and property management company headquartered in Singapore, owned by Temasek Holdings, a Singaporean sovereign investment firm. The group holds a diverse portfolio of real estate assets across 13 markets globally through the management of multiple real estate investment trusts (REITs) and private funds, covering various property types such as logistics, industrial, office buildings, retail, residential, student apartments, data centers, etc., with extensive experience in asset layout and operations in the United States, Japan, Europe, Asia, and other regions. EQT Real Estate is the real estate investment and management unit under the Swedish investment group EQT AB, the parent company of a global leading private equity and asset management institution, managing assets worth over billions of dollars across various investment areas like private equity, infrastructure, growth investments, real estate, venture capital, etc. EQT Real Estate, as its real estate investment platform, focuses on acquiring, developing, leasing, and managing commercial and industrial properties, establishing a broad industrial layout in major global markets through thematic investment strategies and active operational management to drive long-term value enhancement of assets. EQT's $575 million acquisition of Mapletree's warehouse assets on the East Coast of the United States signifies a key period of strategic expansion in the US industrial logistics real estate sector. This acquisition covers 25 warehouse properties along major transportation corridors such as I-95 and I-81, totaling over four million square feet, aligning with EQT Real Estate's high conviction investment theme in "quality logistics assets near population centers with supply constraints." EQT's decision to make this acquisition at this time is driven by the continued growth in demand for high-quality warehouse space due to the growth in US e-commerce and third-party logistics demand, as well as the relative scarcity of high-quality logistics assets in the current market. EQT can leverage its capital strength and operational capabilities to enter at a more mature stage to realize future potential asset appreciation.