Key insights
- EQT Real Estate sold a 7.3M sq ft logistics portfolio to Ares. The portfolio spans 12 US distribution markets. While this reflects continued activity in the industrial real estate sector, the lack of disclosed financial terms and the nature of the deal as a portfolio transfer suggests a limited direct impact on broader US equity markets. The EQT tender offer is a separate event with no clear read-through to equity market direction.
RADNOR, Pa. - EQT Real Estate Industrial Core-Plus Fund II completed the sale of a 36-property logistics portfolio totaling approximately 7.3 million square feet to an Ares Real Estate fund, according to a press release statement issued today.
The portfolio spans 12 U.S. distribution markets, including Chicago, Columbus, Phoenix, Dallas, Atlanta, the Carolinas, Southern California, Memphis, and Cincinnati. Marq Logistics, Ares’ logistics real estate platform, will manage the properties.
The transaction marks the second tranche of a disposition from EQT Real Estate’s Core-Plus industrial portfolio. The first tranche was completed in November 2025.
The assets feature modern logistics specifications with 31-foot clear heights, cross dock and rear-load configuration, truck courts, and parking accommodations. The portfolio is leased to tenants across e-commerce, distribution, food and beverage, and light manufacturing sectors.
"This transaction highlights EQT Real Estate’s strength in creating and realizing value across the investment lifecycle," said Matthew Brodnik, Global Chief Investment Officer at EQT Real Estate.
Dave Fazekas, Head of North America Logistics in Ares Real Estate, said: "We are pleased to complete another transaction with the EQT team in acquiring this diversified portfolio of high-quality assets."
JLL advised EQT Real Estate on the transaction. John Huguenard, Trent Agnew, and Will McCormack served as advisors.
Financial terms of the sale were not disclosed.
In other recent news, EQT Corporation has announced the pricing and acceptance amounts for its tender offer to purchase up to $1.4 billion in senior notes. The company accepted $402.3 million of its 3.900% Senior Notes due 2027, with a proration factor of approximately 61.3%, and fully accepted the 6.375% Senior Notes due 2029 at $547.7 million. Initially, EQT launched a tender offer for up to $1.15 billion of certain outstanding senior notes, which was later upsized to $1.4 billion, increasing the cap for three specific note series due in 2029 from $750 million to $1.0 billion. These developments cover eight series of senior notes with maturities between 2027 and 2031. Additionally, Truist Securities initiated coverage on EQT Corp. with a buy rating, citing a price target of $74.00 based on the firm’s 2P net asset value for the company. In a separate transaction, EQT Real Estate acquired a nine-building industrial portfolio totaling approximately 2 million square feet in Southern New Jersey. This logistics portfolio provides strategic access to the Philadelphia and New York metropolitan areas.
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