Property group EQT Exeter went above and beyond on exceeding its target in raising $3 billion to scoop up industrial buildings. The original goal of the oversubscribed fund was $2.5 billion, as the group had high demand from investors all over the world, including North America, Europe, Asia and the Middle East, writes Ryan Sharrow for the Philadelphia Business Journal.
This firm already has an impressive portfolio. It owns 350 million square feet in property and has $30 billion in real estate assets. EQT Exeter, now a Radnor firm, resulted from a $1.9 billion deal between Conshohocken-based Exeter property group and Stockholm-based private equity firm EQT AB.
The group has been focusing on buying state-of-the-art distribution and fulfillment centers and “last-mile” properties.
In November 2021, the group sold 328 industrial buildings for $6.8 billion. It is considered one of the country’s largest sales of distribution centers.
Read more about EQT Exeter’s real estate plans at the Philadelphia Business Journal.