EQT Exeter Real Estate Income Trust announces acquisition of 450,000 square-foot industrial
property in Georgetown, TX for over $60M
The transaction represents the REIT’s first property acquisition
Philadelphia, PA, March 25, 2024 - EQT Exeter Real Estate Income Trust, Inc. (“EQRT”) today
announced its first acquisition, purchasing 110 Southeast Inner Loop Road in Georgetown, Texas for
$60.9 million. EQRT acquired the property with proceeds from the sale of 6.22 million Class E units of its
operating partnership to EQT Exeter Holdings US, Inc., an affiliate of EQRT’s sponsor.
The 449,642 square-foot property is fully occupied by GAF Energy LLC (“GAF Energy”), a leading
producer of solar roofing, on a long-term lease. The newly built, cutting-edge warehouse was completed
in 2023 and features 106 doors, a 36-foot-tall ceiling, 123 trailer parking spaces, and more than 500 total
parking spaces. As GAF Energy noted when announcing the completion of construction, the increased
capacity and production enabled by this new manufacturing and distribution facility will make GAF Energy
one of the largest producers of solar roofing in the world.
“This property is strategically located in a key regional distribution center just outside Austin, TX. The
location offers access to large and diverse markets with a highly educated and skilled workforce, and
GAF Energy intends to employ over 240 people at this facility,” said Ali Houshmand, EQRT Portfolio
Manager. “The EQRT investment strategy seeks to acquire primarily stabilized, income-oriented
commercial real estate in the industrial sector across the United States. This transaction reaffirms our
commitment to that strategy.”
EQT Exeter CEO Ward Fitzgerald said, “We are thrilled to complete EQRT’s first acquisition. Given the
current interest rate environment and consequent attractive property valuations, we are pursuing a
number of similar deals. We look forward to continuing to make well-timed, strategic acquisitions across
key submarkets in the U.S., capitalizing on our fresh start and lack of the legacy issues seen in our
industry right now.”
EQRT is externally advised by Exeter Property Group, LLC (“EQT Exeter”), the real estate division of
EQT AB, a purpose-driven global investment organization. EQRT focuses on properties that can leverage
EQT Exeter’s scale and long-standing direct leasing relationships with Fortune 1000 companies. EQRT
will generally seek to invest approximately 80% in properties with business tenants, such as industrial or
life science properties, and approximately 20% in real estate assets with consumer users, such as
multifamily or self-storage properties.
For media inquiries:
press@eqtpartners.com
For all other inquiries:
pwm@eqtpartners.com
About EQT Exeter Real Estate Income Trust
EQT Exeter Real Estate Income Trust (“EQRT”) is an externally managed non-traded perpetual life REIT,
which is designed to provide investors access to a global, vertically integrated real estate platform.
Combining EQT Exeter’s heritage as a pioneer in the logistics industry and belief in the importance of
innovation, EQRT will target real estate critical to the functioning of America’s supply chain and its
ongoing leadership in research and development-driven sectors, including life sciences, healthcare and
information technology.
Forward-Looking Statements Disclosure
Statements contained in this press release that are not historical facts are based on EQRT’s current
expectations, estimates, projections, opinions or beliefs and speak only as of the date hereof. Such
statements are not facts and involve known and unknown risks, uncertainties, and other factors. You
should not rely on these forward-looking statements as if they were fact. These forward-looking
statements can be identified by the use of forward-looking terminology such as “may,” “will,” “should,”
“expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue,” “forecast,” or “believe” or the
negatives thereof or other variations thereon or other comparable terminology. Actual events or results or
EQRT’s actual performance may differ materially from those reflected or contemplated in such forward-
looking statements as a result of various risks and uncertainties including those relating to future
economic, competitive and market conditions and future business decisions by EQRT. No representation
or warranty is made as to future performance or such forward-looking statements. In light of the significant
uncertainties inherent in these forward-looking statements, the inclusion of this information should not be
regarded as a representation by EQRT or any other person that EQRT's objectives and plans, which
EQRT considers to be reasonable, will be achieved.
Except as otherwise required by federal securities laws, EQRT does not undertake to publicly update or
revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy
securities.
