RADNOR, PA. AND LOS ANGELES — EQT Real Estate, on behalf of its EQT Real Estate Industrial Core-Plus Fund II, has sold a 36-property logistics portfolio totaling 7.3 million square feet across 12 markets. A real estate investment fund managed by Los Angeles-based Ares Management acquired the portfolio for $650 million, according to various media outlets. Marq Logistics, an affiliate of Ares Management, will manage the properties on behalf of the new ownership.
“This transaction highlights EQT Real Estate’s strength in creating and realizing value across the investment lifecycle,” says Matthew Brodnik, global chief investment officer at EQT Real Estate. “The team combined thoughtful portfolio construction with EQT Real Estate’s differentiated hands-on active management to build a portfolio with strong underlying fundamentals, enhance its performance and ultimately deliver an outcome that reflects its quality and future potential.”
The portfolio spans distribution markets such as Chicago, Phoenix, Dallas, Atlanta, North Carolina, South Carolina, Southern California, Memphis, Columbus and Cincinnati. The properties are more than 95 percent leased to various tenants active in e-commerce, distribution, food-and-beverage and light manufacturing sectors.
Amenities throughout the portfolio include 31-foot clear heights, cross-deck and rear-load configuration, truck courts and significant parking accommodations.
John Huguenard, Trent Agnew, and Will McCormack of JLL represented EQT Real Estate in the transaction. The deal comes on the heels of EQT announcing its acquisition of a 2 million-square-foot industrial portfolio in Southern New Jersey from an affiliate of New YorkThe transaction represents the second tranche of a disposition out of EQT Real Estate’s Core-Plus industrial portfolio, following a separate, previously completed sale announced in November 2025 to Artemis Real Estate Partners.
Created through the merger of EQT and Exeter Property Group in 2021, EQT Real Estate maintains roughly $58 billion in gross asset value and owns and operates more than 2,000 properties across 400 million square feet. The firm’s parent company is Sweden-based EQT AB.
— Abby Cox