EQT Exeter in Radnor has closed a $4.9 billion fund so it can take advantage of current market conditions and invest in industrial properties across the nation, writes Ryan Sharrow for Philadelphia Business Journal.

The fund had exceeded a target size of $4 billion.

EQT Exeter said it “believes that current conditions for acquisitions are fertile, as the higher interest rate environment has resulted in reduced asset pricing.”

It added that “sustained high occupancy nationally and the elevated cost to build new facilities have led to remarkable rental rate growth.”

The Radnor company is part of the Swedish private equity giant EQT.

The Exeter Industrial Value Fund VI will acquire, develop, renovate, lease, operate, and sell industrial properties in major U.S. markets.

The focus will be on modern, single-tenant fulfillment centers and last-mile assets used by large corporations.  

With $30 billion in real estate assets under management, EQT Exeter oversees a portfolio totaling more than 350 million square feet across 1,800 buildings.

The company was formed in 2021 when Conshohocken-based Exeter Property Group sold to EQT AB in a $1.9 billion deal.

Read more about EQT Exeter’s decision to close a $4.9 billion industrial property investment fund in the Philadelphia Business Journal.