EQT AB purchased a $1.2 billion logistics portfolio in Southern California from Rexford Industrial Realty. The deal, announced Thursday and reported Friday, expands EQT’s real estate presence in supply-constrained markets.
The acquired portfolio consists of 32 buildings. These properties total 5.2 million square feet. The assets are currently 96% leased to a diverse range of tenants.
More than 50% of the buildings are located near the Los Angeles and Long Beach port complex. This location leverages consistent tenant demand driven by port activity. Rexford sold the non-core assets to strengthen its balance sheet.