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QT Exeter Real Estate Income Trust, Inc. ("EQRT") has acquired 2871 S. 102nd Street in Tukwila, Washington for $81.5 million, marking its fourth property purchase since inception. The 202,464 square-foot industrial building is fully occupied by a multinational online retailer with an investment-grade credit rating.
Completed in 2021, the last-mile facility boasts rare class-A specifications and is strategically located near Seattle's growing population, with nearly 4 million people within a one-hour drive and over 200,000 industrial workers within a 45-minute commute. The property offers connectivity to customers and suppliers via a network of nearby interstate freeways, the Port of Seattle, and Seattle International Airport.
"South Seattle is an in-demand market with limited developable land, an aging building stock, and strong demand for warehouse space," said Ali Houshmand, Global Head of Non-Traded REITs at EQT Exeter. "This property's location makes it an ideal regional distribution hub for the core of Seattle and surrounding region."
The acquisition brings EQRT's total capital deployed to approximately $390 million since inception. The transaction highlights the trust's focus on acquiring critical real estate assets that support America's supply chain and emerging industries.
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Forward-Looking Statements Disclosure
This press release contains forward-looking statements that are subject to various risks and uncertainties. Actual events or results may differ from those reflected in these statements due to factors such as future economic conditions, market trends, and business decisions. EQRT does not undertake to publicly update or revise any forward-looking statements.
About EQT Exeter Real Estate Income Trust
EQT Exeter Real Estate Income Trust is an externally managed non-traded perpetual life REIT that provides investors with access to a global real estate platform focused on critical assets supporting America's supply chain and emerging industries.
