EQT Real Estate has been selling older industrial properties and acquiring new ones with more modern specifications fit for the logistics industry. In so doing, it completed one of the largest U.S. industrial transactions of 2025.
Over the past two months, the Stockholm-based firm completed three U.S. industrial portfolio dispositions totaling 13.2 million square feet while purchasing 4.8 million square feet of newly constructed facilities, according to multiple company statements. The portfolios were held by various EQT investment funds.
The transactions reveal a deliberate strategy to harvest gains from stabilized holdings and redeploy capital into higher-quality assets. As part of this approach, investors typically hold properties for three to five years before selling them at a profit.
In its latest deal, EQT sold an 8.7 million-square-foot portfolio spanning 25 properties across 13 major U.S. distribution markets to Artemis Real Estate Partners, according to EQT.
The company has not disclosed transaction prices on any of the recent deals, and didn't respond to requests to comment from CoStar News. However, the Artemis deal marks the second-largest industrial transaction recorded in the United States this year based on square footage sold, CoStar data shows.
The only deal larger was the $850 million sale-leaseback of a portfolio of AT&T industrial and flexible properties housing telecommunications equipment.
Artemis secured a $515 million acquisition loan from Wells Fargo to complete the deal, according to public records.
Swapping properties
The divested portfolio includes assets primarily built after 2000, with an average clear height of 31 feet. Properties span Atlanta, Chicago, New York, Phoenix and Texas markets, according to EQT. The firm assembled the portfolio starting in 2020 through a combination of selective acquisitions and development.
The 8.7 million-square-foot sale showcases "our ability to scale logistics platforms and deliver value across the investment lifecycle," Matthew Brodnik, global chief investment officer at EQT, said in a statement.
EQT also offloaded 4.2 million square feet across 33 last-mile distribution buildings on Nov. 20 to two separate buyers. And it sold a seven-property truck terminal portfolio totaling 312,000 square feet in October.
Amid the property sales, EQT acquired an 11-building portfolio in October featuring markedly different specifications. The newly constructed assets offer clear heights ranging from 32 feet to 40 feet and are located in secondary markets, including Houston, Texas; Greenville and Spartanburg, South Carolina; Jacksonville, Florida; and Indianapolis, Indiana.
Earlier last month, EQT and its institutional backers secured an $859 million industrial portfolio refinancing backed largely by warehouses in secondary markets with upside rent projections.
EQT manages $58 billion in gross asset value and operates more than 2,000 properties totaling 400 million square feet globally.
For the record
JLL advised on the 8.7 million-square-foot disposition. CBRE National Partners and Cushman & Wakefield advised on the additional sales.