Mapletree Sells Industrial Assets to EQT in $241.2M Deal - InforCapital

EQT Real Estate has acquired a 2.4 million-square-foot warehouse portfolio across the U.S. Sunbelt region from Mapletree Investments for US$241.2 million, marking a significant strategic move for both companies in the industrial real estate sector.

The deal includes 10 bulk warehouse assets situated in high-growth markets across Georgia, Florida, and Texas. These locations are known as innovation and logistics hubs, positioning EQT to benefit from ongoing demand driven by e-commerce, third-party logistics, and consumer goods sectors.

This transaction represents Mapletree’s second major divestment in the U.S. industrial space within two months. In June 2025, the company completed the sale of a 1.8 million-square-foot portfolio of 30 shallow-bay properties for US$328 million. Both deals are part of Mapletree’s strategy to optimize returns for its investors and reallocate capital into high-performing logistics assets.

"This divestment represents a strong outcome for our investors and affirms the value we’ve created across our U.S. industrial portfolio," said Richard Prokup, CEO of Mapletree U.S. operations. "We will continue to focus on acquiring premium warehouse assets aligned with our long-term growth strategy."

John Paul Chua, U.S. Investment Director at Mapletree, added, "Partnering with EQT on this deal showcases the commitment and collaborative spirit throughout the process."

The divested properties were held under the Mapletree US & EU Logistics Private Trust (MUSEL), a closed-end fund launched in 2019 with an initial asset base of US$4.3 billion. MUSEL’s portfolio originally included 262 assets strategically located near major transportation corridors across the U.S. and Europe.

Mapletree currently manages approximately 70 million square feet of industrial space in the U.S. and has grown its American presence significantly since entering the market in 2014. As of March 2025, U.S. assets made up around 25% of Mapletree’s global portfolio, valued at US$60.1 billion.

This transaction underlines the strong investor appetite for well-located industrial real estate, particularly in the Sunbelt region, where population growth, infrastructure expansion, and robust consumer demand continue to fuel logistics space needs.

EQT’s acquisition of this portfolio further cements its commitment to the U.S. real estate market, as it continues to deploy capital into scalable, income-generating logistics assets. The deal is expected to be finalized by the end of 2025.