Months after announcing its $250 billion pledge in the U.S. — EQT Real Estate has made a major play. The investment manager has acquired a 25-warehouse portfolio, located in both the Southeast and Northeast regions.
In total, the portfolio extends to 4.43 million square feet. The locations are in the following states and cities: Washington D.C., Florida, Georgia, New Jersey, North Carolina, Pennsylvania, Tennessee, Virginia and Connecticut.
Mapletree sold the assets, with 24 of them stored under the Mapletree US & EU Logistics Private Trust fund that launched in 2019, with just one location under the Mapletree US Logistics Private Trust, which debuted in 2021. Both of these are closed-end private pools.
The full sale is expected to close this month, with JLL representing Mapletree on the deal.
"This investment reflects our high-conviction, thematic approach to investing in infill logistics across the U.S., where we see strong long-term demand for well-located industrial assets," Matthew Brodnik, chief investment officer at EQT, said in a statement.
"We believe the portfolio serves as a compelling addition to our U.S. logistics platform and look forward to building on the portfolio's strong fundamentals through our active ownership approach."
The acquisition today follows EQT's promise of expansion in the U.S. In October 2025, CEO and Managing Partner Per Franzén told Bloomberg TV that it would invest more than $250 billion over five years in the country. The strategy spans across private capital, infrastructure and real estate.
According to EQT, its total real estate portfolio exceeds 2,000 properties across over 470 million square feet.
Meanwhile, Mapletree continues to offload industrial assets. This marks the Singapore-based firm's fourth warehouse sale in the country, with $691.1 million in volume completed last year. One of them included another sale to EQT in July 2025. The trade, for $241 million, involved a 2.4 million square feet portfolio across Georgia, Florida and Texas. Yet, at the time, Mapletree assured that it remains committed to warehouse, pledging to reinvest in top-tier properties in the sector.
It now remains to be seen whether Mapletree will continue divesting out of industrial after its latest move. In the U.S., the firm currently manages more than 66 million square feet of industrial properties.
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