EQT Buys 20 U.S. Industrial Properties From Prologis
By Dominic Chopping
STOCKHOLM--Swedish private-equity firm EQT said its real-estate division acquired 20 industrial properties in Minneapolis, Minnesota, from Prologis.
The properties are strategically located along key logistics routes and consist of over five million square feet, featuring a mix of bulk, light industrial and last mile facilities, it said.
EQT Exeter, EQT's global real estate investment manager, said it plans to "upgrade, reposition and re-lease" the properties and will carry out strategic capital improvements and sustainability-focused upgrades like energy efficient LED lighting and select solar array installations.
EQT Exeter plans to acquire an additional four properties by the final closing date, which is expected during the second quarter of 2024.
Financial terms weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
May 29, 2024 08:37 ET (12:37 GMT)
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