EQT Exeter, based locally in Radnor, has finished the largest Twin Cities industrial acquisition portfolio deal Minnesota has seen in years, writes Caitlin Anderson for Philadelphia Business Journal.
EQT Exeter acquired 24 buildings covering 5 million square feet in cities across the Minneapolis/St. Paul metro area, including Shakopee, Eagan, Brooklyn Park, Otsego and more.
The entire transaction totaled $450 million, with most of the properties sold in May.
The properties were sold to EQT by Prologis Inc. based in San Franciso. Prologis is an owner and investor in logistics real estate.
The entire portfolio was initially acquired by Prologis Inc. after it purchased Duke Realty in 2022.
Individual properties in the portfolio sold from a low of $7.3 million in Roseville to $41.1 million in Otsego.
EQT Exeter is the the real estate arm of the Swedish investment firm EQT.
This year, it has been making major real estate investments in other parts of the United States as well, including in Austin, Texas, and in California’s Inland Empire.
EQT Exeter closed a $4.9 billion fund last year to invest in industrial properties across the U.S.
Read more about EQT Exeter’s extensive industrial portfolio acquisition in the Philadelphia Business Journal.
