EQT Exeter, the global real estate investment manager, has bought two logistics properties in Milton Keynes and Dartford from M&G Real Estate for £100 million.
The warehouses have been bought for its EQT Exeter European Logistics Value Fund IV.
In Milton Keynes, the 320,000-square-foot warehouse at Anderson Gate is 100% let to DS Smith Corrugated Packaging while the Dartford asset totals 334,000 square feet fully let to Asda Stores as a distribution centre. The South East logistics hubs are "close to major transportation networks, supporting critical regional distribution operations and fulfilling EQT Exeter’s focus on high-demand logistics markets fueled by robust e-commerce growth and evolving supply chain needs", the group said.
It added that the transaction aligns with its value creation investment strategy via energy efficiency upgrades.
Jonathan Mackie, director of UK acquisitions and leasing at EQT Exeter, said in a statement: “We are excited to add these two high-quality logistics assets to our portfolio. Their strategic locations attract robust big-box occupier profiles proving the critical nature of these UK logistics submarkets. EQT Exeter’s operational expertise and focus on sustainability will aim to unlock further potential for these properties, ensuring they meet the evolving needs of our occupiers and investors alike.”
EQT Exeter was advised by ACRE Capital Real Estate (commercial), Charles Russell Speechlys (legal), Epsilon Environmental (environmental) and Black Cat Consultancy (tech).