EQT Real Estate Acquires 5.2 Million Sq Ft Logistics Portfolio in Southern California
EQT Real Estate has acquired a 32-building, 5.2 million square foot logistics portfolio from Rexford Industrial Realty. The deal spans key markets in Southern California and strengthens EQT's focus on well-located assets.
EQT Real Estate has acquired a substantial logistics portfolio comprising 32 buildings and 5.2 million square feet of space across Southern California. The acquisition was made from Rexford Industrial Realty, Inc., and includes assets in Los Angeles County, Orange County, the San Gabriel Valley, South Bay, and Inland Empire West.
The portfolio is currently 96% leased to 36 tenants across a diverse range of industries. The average remaining lease term for these properties is 2.7 years. This acquisition reinforces EQT Real Estate's strategy of targeting well-located logistics assets in supply-constrained Southern California markets characterized by durable, port-driven tenant demand.
These strategically positioned assets are expected to benefit from consistent demand linked to the region's significant port activity. EQT Real Estate has previously indicated a focus on such markets where demand for logistics space outstrips supply.
Financial terms of the transaction have not been disclosed. The acquisition is expected to support EQT Real Estate's ongoing expansion within the U.S. logistics sector.