Key Takeaways
- • Mapletree Investments sold a 25-asset US logistics portfolio totaling more than 4.4 million square feet to Sweden's EQT Real Estate for $575 million, according to a Mapletree release issued Thursday.
- • The deal is Mapletree's fourth major US warehouse disposal and its second US industrial sale to EQT in the past year, following a 10-asset portfolio sold for $241.2 million.
- • Of the 25 assets, 24 were held by the closed-end Mapletree US & EU Logistics Private Trust (MUSEL) and one by the Mapletree US Logistics Private Trust, with full completion expected this month.
- • EQT plans a "hands-on approach" to active management of the east coast portfolio through leasing, site improvements and selective redevelopment.
- • Mapletree simultaneously disclosed a Dutch logistics acquisition, Park 15 in Oosterhout, as it builds a Europe logistics strategy.
Summary
Mapletree Investments has sold a 25-asset logistics portfolio to EQT Real Estate, the real estate arm of Sweden's Stockholm-based EQT, for $575 million, according to a Mapletree release issued Thursday. The portfolio, held by private funds, spans more than 4.4 million square feet (408,773 square metres) of warehouse space across Florida, Georgia, the Carolinas, Pennsylvania, Virginia and Washington DC. The transaction marks Mapletree's fourth major US warehouse disposal following three deals closed in rapid succession last year.
Of the 25 assets, 24 were held under the Mapletree US & EU Logistics Private Trust (MUSEL), a closed-end private fund launched in 2019 with an initial $4.3 billion portfolio of 200 assets in America and 62 in Europe. The remaining asset was held under the Mapletree US Logistics Private Trust, a closed-end fund launched in 2021 with an initial $3.3 billion portfolio of 154 properties. Mapletree described the sale as the fourth milestone exit for MUSEL investors. Full completion is expected this month, when select remaining assets are scheduled to close.
The sale is Mapletree's second US industrial disposal to EQT in the past year, following a 10-asset portfolio sold for $241.2 million. These trades were part of $691.1 million in total logistics asset disposals completed by the Temasek-owned manager in 2025. Mapletree's earlier 2025 sales also included a 30-asset portfolio sold to New Jersey-based Faropoint for $328 million and a set of sheds near Washington DC sold to Equus Capital Partners for $102.6 million. EQT's Exeter Property Group had previously sold US warehouses to Mapletree in 2021.
Mapletree US CEO Richard Prokup said the divestment "reflects the successful execution of our closed-end fund strategy and illustrates the strength of our US industrial platform," adding that the firm remains confident in long-term logistics fundamentals and is advancing new development opportunities nationwide. Matthew Brodnik, chief investment officer of EQT Real Estate, described the deal as reflecting the firm's "high-conviction, thematic approach to investing in infill logistics across the US." Mapletree owns and manages more than 66 million square feet of US industrial assets, with a 2.6 million square foot development pipeline. As of last March, the US accounted for 25 percent of Mapletree's total assets under management of $60.1 billion.
Separately, Mapletree disclosed on Friday its acquisition of Park 15, a newly completed 30,817 square metre (331,711 square foot) warehouse in Oosterhout, within the Arnhem-Nijmegen metropolitan area, from Netherlands-based VDG Real Estate. The purchase follows a December acquisition of a 34,852 square metre development in Roosendaal from UK fund manager Verdion for €32.3 million ($34 million). Mapletree now has 83 European assets valued at €1.6 billion across eight countries. Ralph van der Beek, Mapletree's CEO of commercial and logistics for Europe, cited confidence in European logistics demand amid macroeconomic uncertainty.
Of the 25 assets, 24 were held under the Mapletree US & EU Logistics Private Trust (MUSEL), a closed-end private fund launched in 2019 with an initial $4.3 billion portfolio of 200 assets in America and 62 in Europe. The remaining asset was held under the Mapletree US Logistics Private Trust, a closed-end fund launched in 2021 with an initial $3.3 billion portfolio of 154 properties. Mapletree described the sale as the fourth milestone exit for MUSEL investors. Full completion is expected this month, when select remaining assets are scheduled to close.
The sale is Mapletree's second US industrial disposal to EQT in the past year, following a 10-asset portfolio sold for $241.2 million. These trades were part of $691.1 million in total logistics asset disposals completed by the Temasek-owned manager in 2025. Mapletree's earlier 2025 sales also included a 30-asset portfolio sold to New Jersey-based Faropoint for $328 million and a set of sheds near Washington DC sold to Equus Capital Partners for $102.6 million. EQT's Exeter Property Group had previously sold US warehouses to Mapletree in 2021.
Mapletree US CEO Richard Prokup said the divestment "reflects the successful execution of our closed-end fund strategy and illustrates the strength of our US industrial platform," adding that the firm remains confident in long-term logistics fundamentals and is advancing new development opportunities nationwide. Matthew Brodnik, chief investment officer of EQT Real Estate, described the deal as reflecting the firm's "high-conviction, thematic approach to investing in infill logistics across the US." Mapletree owns and manages more than 66 million square feet of US industrial assets, with a 2.6 million square foot development pipeline. As of last March, the US accounted for 25 percent of Mapletree's total assets under management of $60.1 billion.
Separately, Mapletree disclosed on Friday its acquisition of Park 15, a newly completed 30,817 square metre (331,711 square foot) warehouse in Oosterhout, within the Arnhem-Nijmegen metropolitan area, from Netherlands-based VDG Real Estate. The purchase follows a December acquisition of a 34,852 square metre development in Roosendaal from UK fund manager Verdion for €32.3 million ($34 million). Mapletree now has 83 European assets valued at €1.6 billion across eight countries. Ralph van der Beek, Mapletree's CEO of commercial and logistics for Europe, cited confidence in European logistics demand amid macroeconomic uncertainty.
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