ING Capital announced it has provided a fully underwritten $268 million acquisition facility to EQT Real Estate’s Core Plus Fund IV. The financing supported the fund’s acquisition of 11 institutional-quality logistics assets totaling 2.8 million square feet across six high-growth U.S. logistics markets, building on the firms’ growing relationship in both the U.S. and European markets.
The 11-asset portfolio is fully leased and features modern specifications, including an average building age of 2014, 33-foot average clear heights, and an average of 22 dock-high doors per asset, with a weighted average lease term of seven years. Tenants span food and beverage, packaging, bulk transport, e-commerce, and aviation, with the portfolio composed of 63 percent bulk distribution, 26 percent light industrial, and 11 percent last-mile distribution assets.
EQT Real Estate is the real estate division of EQT AB, a global investment organization headquartered in Stockholm that manages more than €291 billion in assets across multiple geographies and sectors. EQT Real Estate serves more than 100 institutional investors globally and manages more than $59 billion in assets under management, owning and operating over 2,000 properties and 450 million square feet through more than 400 professionals across 50 locations.
KEY QUOTES:
“This transaction reflects the creative, flexible financing solutions our real estate team is able to bring to sponsors navigating complex portfolio acquisitions. Logistics fundamentals remain strong, and we are pleased to support EQT Real Estate, one of the premier real estate platforms in the US. This deal reflects our commitment to supporting our most important sponsor clients across sectors, products and ING’s global network.”
Craig Bender, Managing Director and Head of Commercial Real Estate for the Americas, ING Capital LLC
“ING has become a trusted partner in the US and Europe. Their team was able to move with the speed and flexibility we needed. We look forward to continuing to build on this partnership.”
Brian Ford, Managing Director, EQT Real Estate
