EQT Exeter鈥檚 non-listed, perpetual-life US real estate investment trust (REIT) has invested over $80m (鈧�74m) to acquire its fourth asset.
EQT Exeter Real Estate Income Trust (EQRT) said it has acquired 2871 S 102nd Street industrial property in Tukwila in Washington for $81.5m.
The fully-let, 202,464sqft property, located in South Seattle, was completed in 2021.
Ali Houshmand, global head of non-traded REITs at EQT Exeter, said: 鈥淪outh Seattle is a highly sought-after, low-supply infill market with limited developable industrial land, an ageing building stock and strong appetite for warehouse space.
鈥淩apid population growth and increasing e-commerce demand, as well as dynamic emerging industries make this property an ideal regional distribution location to the core of Seattle and surrounding region.鈥�
EQRT鈥檚 acquisition marks its fourth since the company鈥檚 founding in August last year, bringing total capital deployed to around $390m.
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