EQT Exeter Real Estate Income Trust Announces Two Industrial Acquisitions Valued at Over $245 Million

Acquisitions include a 1.2 million-square-foot property in Middletown, Pennsylvania, for more than $170 million and a 630,000-square-foot property in Portland, Tennessee, for $75 million

PHILADELPHIA, Aug. 19, 2024 /PRNewswire/ — EQT Exeter Real Estate Income Trust, Inc. (“EQRT”) today announced two strategic acquisitions: 3327 E Harrisburg Pike in Middletown, Pennsylvania for over $170 million and 1500 Shoals Way in Portland, Tennessee for $75 million. Both industrial properties were constructed last year and are fully leased to commercial tenants, with each property having leases for over 10 years.

With a fresh start and no legacy issues, EQRT continues to pursue strategic acquisitions aligned with market dynamics and in key U.S. submarkets, positioning itself for long-term growth.

The 1,200,000+ square foot property in central Pennsylvania is strategically located near the regional hubs of two major U.S. ocean carriers and within 5 miles of Harrisburg International Airport and Norfolk Southern Rutherford Railyard. With an extensive network of transportation and interstate highways, the property is located in a key distribution hub that provides easy access to the Northeast U.S., including major coastal markets from Boston to Washington, DC.

The 638,000-square-foot Tennessee property is close to multiple highways. Half of the U.S. population lives within 650 miles or a day’s drive by truck, including Nashville, one of the fastest-growing markets in the U.S. Accessibility to both customers and potential employees, in addition to advanced on-site manufacturing capabilities, are important factors for industrial real estate as some commercial tenants prioritize nearshoring their operations and expanding their local manufacturing footprint.

“EQRT is investing in the U.S. supply chain and will continue to focus on acquiring industrial properties that support the growth ambitions of our commercial tenants, which include major distributors and manufacturers,” said Ali Houshmand, EQRT Portfolio Manager. “We remain committed to our tenant-centric, vertically integrated strategy.”

EQRT acquired the properties in Pennsylvania and Tennessee with the proceeds from the sale of $91,200,000 of Class E Units owned by its operating company to EQT Exeter Holdings US, Inc., an affiliate of EQRT’s sponsor, and with the proceeds from debt financing.

EQRT is externally advised by Exeter Property Group, LLC (“EQT Exeter”), the real estate division of EQT AB, a purpose-driven global investment organization. EQRT focuses on properties that can leverage EQT Exeter’s scale and long-standing direct leasing relationships with Fortune 1000 companies. EQRT will generally seek to invest approximately 80% in properties with business tenants, such as industrial or life sciences properties, and approximately 20% in real estate assets with consumer tenants, such as multifamily or self-storage properties.

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Disclosure of Forward-Looking Statements

Statements in this press release that are not historical facts are based on EQRT’s current expectations, estimates, projections, opinions or beliefs and speak only as of the date they were made. Such statements are not facts and involve known and unknown risks, uncertainties and other factors. You should not rely on these forward-looking statements as if they were facts. These forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “goal,” “estimate,” “intend,” “continue,” “project” or “believe” or the negatives of these terms or other variations or other comparable terminology. Actual events or results or EQRT’s actual results may differ materially from those reflected or contemplated in such forward-looking statements as a result of various risks and uncertainties, including those related to future economic, competitive and market conditions and EQRT’s future business decisions. No representation or warranty is made as to future results or such forward-looking statements. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be considered a representation by EQRT or any other person that EQRT’s objectives and plans, which EQRT considers reasonable, will be achieved.

Except as required by federal securities laws, EQRT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.

This information was provided by Cision http://news.cision.com.

https://news.cision.com/eqt/r/eqt-exeter-real-estate-income-trust-announces-two-industrial-acquisitions-totaling-over–245m,c4025601

The following files are available for download:

https://mb.cision.com/Main/87/4025601/2949317.pdf	PR_EQRT Middletown and Shoals Acquisitions_0190824
https://news.cision.com/eqt/i/shoalsway092223-210,c3325138	ShoalsWay092223 210

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