Henry Steinberg Of EQT Real Estate Acquires Industrial Portfolio From Hiew Yoon Khong For $575M

The transaction involves an industrial portfolio comprising 25 warehouses, located across Connecticut and Florida. The total square footage of the assets amounts to 4,400,000, with the property carrying a price tag of $575,000,000, translating to a price per square foot of $131.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $575,000,000
• Buyer: Henry Steinberg - EQT Real Estate
• Seller: Hiew Yoon Khong - Mapletree Investments
• Market: Connecticut & Florida
• Square Footage: 4,400,000
• Price per Square Foot: $131

This transaction reflects Mapletree Investments Pte's decision to divest from a significant logistics portfolio, marking its fourth U.S. logistics divestment within the past year. The assets are held across the Mapletree US & EU Logistics Private Trust and another logistics trust of Mapletree. The deal is anticipated to close within the current month.