Press release

March 25, 2024

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

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.

About EQT Exeter Real Estate Income Trust

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.

About EQT Exeter

EQT Exeter is a global real estate investment manager with nearly $30 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 440 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter's track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.