Mapletree Investments Pte Ltd has sold a 2.4-million-square-foot industrial portfolio to EQT Real Estate for $241.2 million. It marks Mapletree’s second U.S. warehouse portfolio divestment, following the sale of a 1.8-million-square-foot industrial portfolio comprising 30 shallow-bay buildings to Faropoint for $328 million in June.
The portfolio comprises 10 bulk warehouse assets located in high-growth innovation hubs across the Sunbelt states of Georgia, Florida and Texas. Clayton Skistimas, Christina Buhl, Marc Alfert, Mark Chu and Steve Silk of Eastdil Secured represented Mapletree in the sale.
“This divestment represents a strong outcome for our investors and affirms the value we’ve created across our U.S. industrial portfolio,” said Richard Prokup, CEO, U.S., Mapletree. “As we look ahead, we remain focused on reinvesting in premier warehouse assets that align with our long-term growth strategy.”
The divested assets were held under Mapletree US & EU Logistics Private Trust, a closed-end private fund launched in 2019 with $4.3 billion in assets under management.
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