RADNOR, PA., AND CHEVY CHASE, MD. — EQT Real Estate, on behalf of its EQT Real Estate Industrial Core-Plus Fund II, has sold a 25-property logistics portfolio totaling 8.7 million square feet across 13 markets. The sales price was not disclosed, but the transaction marks the largest U.S. industrial sale so far in 2025, according to Radnor-based EQT Real Estate. Chevy Chase-based Artemis Real Estate Partners was the buyer.
The portfolio spans distribution markets such as Atlanta, Chicago, New York, Phoenix and Texas. The assets feature an average clear height of 31 feet, cross-dock and rear-load configurations, expansive truck courts and generous parking accommodations. Most of the properties were developed after 2000, and EQT Real Estate began assembling and managing the portfolio in 2020.
The properties are more than 95 percent leased to 25 tenants active in distribution, e-commerce, food and beverage and manufacturing.
EQT Real Estate says the transaction marks the culmination of its multi-year strategy to assemble and scale a national logistics platform in high-growth, supply-constrained U.S. markets. Additionally, the sale reflects investor appetite for stabilized, institutional logistics properties with long-term demand drivers and limited new supply.
John Huguenard, Trent Agnew and Will McCormack of JLL represented EQT Real Estate in the transaction. Kevin MacKenzie, Steven Klein and Christopher Pratt of JLL arranged a $515 million acquisition loan through Wells Fargo.
“Prime infill locations, exceptional building quality and a diversified tenant base made this a rare institutional-scale offering,” says Huguenard. “These properties combine everything investors seek — connectivity to population, access to major transportation nodes and room for future expansion. The underlying market demographics and city-adjacent sites will support lasting demand and above-market rent growth.”
Created through the merger of EQT and Exeter Property Group in 2021, EQT Real Estate maintains more than $31 billion in real estate equity under management. The firm’s parent company is Sweden-based EQT AB.
— Kristin Harlow