NEW YORK, NY– Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) is pleased to announce the sale of a 2.4 million-square-foot (sq ft) industrial portfolio to EQT Real Estate for US$241.2 million. This transaction marks the Group’s second U.S. warehouse portfolio divestment following the sale of a 1.8 million-sq ft industrial portfolio comprising 30 shallow-bay buildings for US$328 million in June 2025.
“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, Chief Executive Officer, U.S., Mapletree. “As we look ahead, we remain focused on reinvesting in premier warehouse assets that align with our long-term growth strategy.”
“Partnering with EQT to close this transaction is a significant achievement. It showcases the commitment and teamwork shown by all sides throughout the process,” said John Paul Chua, Director, Investment, U.S., Mapletree.
The portfolio comprises 10 bulk warehouse assets located in high-growth innovation hubs across the Sunbelt states of Georgia, Florida and Texas. Clayton Skistimas, Christina Buhl, Marc Alfert, Mark Chu and Steve Silk of Eastdil Secured represented Mapletree in the transaction. The portfolio transaction is expected to be fully completed by late 2025.
The divested assets were held under Mapletree US & EU Logistics Private Trust (MUSEL), a closed-end private fund launched in 2019 with a diversified pan-American and pan-European portfolio totaling US$4.3 billion in assets under management at the fund’s inception. The original portfolio comprised 262 strategically located assets, well-connected to transportation nodes and benefiting from robust demand across sectors including e-commerce, third-party logistics and consumer products. This divestment represents the successful second milestone of exit for investors of MUSEL. Mapletree owns and manages ~70 million sq ft of industrial assets across the U.S. Since entering the U.S. real estate market in 2014, the Group has built a diverse portfolio spanning logistics, data center, office, student housing and multifamily properties. As of March 31, 2025, the US accounted for approximately 25% of the Group’s total assets under management, valued at ~US$60.1 billion (S$80.3 billion).
The divested assets include 5890 Ronald Reagan Blvd (center) in Alpharetta, Georgia.
The portfolio also includes 251 International Parkway in Sunrise, Florida.
