EQT Real Estate Acquires 14-Asset Pan-European Logistics Portfolio From Logicor for €532 Million
EQT Real Estate has agreed to acquire a 14-asset pan-European logistics portfolio from Logicor for €532 million, the firms announced July 30, adding approximately 457,000 square meters of fully leased warehouse and distribution space across three of Europe's largest logistics markets.
The buyer is EQT Real Estate Europe Logistics Value Fund V, a value-add logistics strategy focused on Europe. The portfolio comprises eight assets in the United Kingdom, four in Germany and two in France, all of which are fully leased to a diversified mix of retail, e-commerce, logistics and industrial occupiers. The implied purchase price equates to approximately €1,164 per square meter, or roughly €108 per square foot.
Deal Structure and Closing Status
The transfer of the UK assets has been completed. Completion of the German and French assets remains subject to customary closing conditions, resulting in a staggered closing across the three jurisdictions.
EQT Real Estate describes the properties as modern logistics facilities located in major distribution markets with access to key transport networks and population centers. Individual asset addresses and property-level financial metrics were not included in the announcement.
Jonathan Mackie, Managing Director at EQT Real Estate, said: "European logistics remains one of our highest-conviction sectors, underpinned by sustained occupier demand for well-located, high-quality assets. We're delighted to further expand our presence through this acquisition from Logicor, adding a diversified portfolio of high-quality properties and creating a strong platform for long-term growth."
Ryan Pappas, Chief Investment Officer at Logicor, said: "We are particularly pleased to have agreed another transaction with EQT, a highly respected and professional partner, reflecting the continued appeal of best-in-class logistics assets and the strength of long-term relationships in our sector."
EQT Real Estate's European Logistics Platform
The acquisition adds to EQT Real Estate's broader global logistics platform, which manages approximately $59 billion in gross asset value, owns and operates more than 2,000 properties totaling over 450 million square feet, and employs more than 400 professionals across 50 locations. The platform was built in large part through EQT's 2021 combination with Exeter Property Group, which placed logistics at the center of the firm's real estate strategy.
The Europe Logistics Value Fund V vehicle's name signals a business plan oriented around leasing, operational upgrades, rent reversion, and potential asset expansion, consistent with a value-add mandate rather than a pure core income approach.
EQT Real Estate has been active on both sides of the logistics transaction market over the past 18 to 24 months. The firm sold a 25-property, 8.7 million square foot U.S. logistics portfolio in what was described as the largest U.S. industrial transaction of 2025, valued at $6.8 billion including debt. It also sold a 36-property, 7.3 million square foot logistics portfolio across 12 U.S. markets for $650 million to Ares and Marq Logistics at greater than 95% occupancy. On the acquisition side, EQT Real Estate purchased a three-asset portfolio in Savannah, Jacksonville and Lakeland in 2026, as well as an 11-asset, 2.8 million square foot U.S. logistics portfolio financed with a $268 million ING facility for its Core Plus Fund IV.
About the Seller: Logicor
Logicor is a pan-European logistics real estate owner, manager and developer headquartered in London and Luxembourg. As of December 2025, its portfolio spans more than 17 million square meters of warehouse space across key European transportation hubs and near major population centers, supporting more than 1,700 customers. The sale to EQT Real Estate represents a continuation of an existing relationship between the two firms, as noted by Pappas in his statement.
EQT is a global investment organization with €291 billion in total assets under management as of June 30, 2026, divided across three business segments: Private Capital, Infrastructure and Real Estate.
Market Context
The transaction comes as institutional demand for well-located European logistics assets has remained durable, supported by occupier requirements tied to e-commerce fulfillment, supply chain reconfiguration and proximity to major consumption centers. The portfolio's 100% occupancy rate at acquisition and its geographic spread across the UK, Germany and France position it across three of the continent's most liquid and institutionally active logistics markets.
EQT Real Estate's press office can be reached at press@eqtpartners.com.