Ward Fitzgerald Of EQT Exeter Real Estate Income Trust Acquires Two Industrial Properties For $245M

The transaction involved two fully leased industrial properties located at 3327 Harrisburg Pike in Middletown, PA, and 1500 Shoals Way in Portland, TN. The sale price totaled $245,000,000 for the assets, which include a 1.2 million sq. ft. facility in Middletown acquired for $170 million and a 638,000 sq. ft. warehouse in Portland purchased for $75 million. The properties are situated in established markets with robust demand for industrial space.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $245,000,000
• Buyer: Ward Fitzgerald - EQT Exeter Real Estate Income Trust
• Seller: Core5 Industrial Partners; Al Neyer
• Lender: New York Life Insurance Co.
• Square Footage: 1,838,000
• Price per Square Foot: $133

The deal was facilitated by EQT Exeter Real Estate Income Trust's strategy to acquire commercial assets, focusing on industrial properties and life sciences. The financing structure included a $91.2 million Class E unit sale, alongside debt, to support the acquisitions. Ward Fitzgerald's involvement signifies the growing interest in the industrial sector.