An LBA Realty affiliate has acquired 46 logistics buildings totaling approximately 10.5 million square feet from EQT Real Estate, transferring a large multi-market warehouse portfolio across the southeastern United States in a single transaction.
The properties span 10 markets across the Carolinas, Georgia, Florida and Alabama, giving LBA additional exposure to distribution hubs connected to major ports, interstate corridors and inland manufacturing centers.
Financial terms were not disclosed.
EQT’s Industrial Value Fund V sold the portfolio, which consists of Class A logistics buildings averaging approximately 230,000 square feet. The assets support operations ranging from last-touch delivery and third-party logistics to regional distribution, bulk logistics and advanced manufacturing.
The geographic footprint stretches from Charlotte, Greensboro and Greenville-Spartanburg through Atlanta and Savannah, then south into Jacksonville, Orlando and Tampa and west to Birmingham and Huntsville.
That spread is significant because LBA is not acquiring exposure to a single industrial market or warehouse format.
The portfolio combines major population-serving distribution centers such as Atlanta, Charlotte, Orlando and Tampa with port-oriented markets including Savannah and Jacksonville and inland manufacturing and logistics locations including Greenville-Spartanburg, Birmingham and Huntsville.
The sources do not disclose how the 46 buildings are distributed among those markets or provide individual property addresses.
EQT has also not disclosed portfolio occupancy, tenant names or the number of tenants. While the seller identifies several types of logistics and manufacturing operations occupying the buildings, there is not enough information to assess tenant concentration or rental-income diversification.
JLL represented EQT in the sale and separately arranged acquisition financing for the LBA affiliate.
According to JLL, two national banks provided the financing. Neither the lenders nor the loan amount, interest rate or leverage were disclosed.
That leaves the financial structure of the acquisition largely private.
No purchase price has been made public, a point also reported by independent commercial real estate publications covering the transaction. Without pricing or net operating income, a price per square foot or acquisition cap rate cannot be calculated reliably.
The physical scale of the deal is clearer.
At 10.5 million square feet, the portfolio gives LBA a substantial block of warehouse capacity across multiple Southeast freight corridors without requiring the buyer to assemble comparable exposure through individual property acquisitions.
EQT specifically points to infrastructure including the Port of Savannah, JAXPORT and Inland Port Greer, along with I-85, I-95, I-75, I-20 and I-4.
Those connections provide access to several freight systems across the portfolio, although the available information does not establish that every building directly handles port, intermodal or manufacturing traffic.
The average building size of approximately 230,000 square feet also indicates that the portfolio is not concentrated solely in the million-square-foot distribution centers often associated with large industrial transactions.
Instead, the assets serve a range of logistics functions at different points in distribution networks.
EQT said its local teams had leased and managed the portfolio before the sale. The firm attributes its investment thesis partly to population and industrial growth across the Southeast and says it created value through leasing and active asset management.
Those conclusions come from the seller. EQT has not disclosed its original aggregate acquisition cost, subsequent capital expenditure or realized return, making the financial outcome of the investment impossible to assess from public information.
JLL has similarly characterized the portfolio as having stable cash flows and rent mark-to-market potential. Those are transaction-adviser assessments; underlying rents, lease expirations and weighted average lease term have not been published.
The sale also follows another sizable logistics disposition by the same EQT fund.
On August 17, 10 days before announcing the LBA transaction, EQT Real Estate Industrial Value Fund V disclosed the sale of a separate 20-property logistics portfolio totaling approximately 4.4 million square feet across six Midwest markets.
Taken together, the two announced August transactions account for 66 logistics properties and approximately 14.9 million square feet sold by Fund V.
That does not establish a formal liquidation strategy, but it does show the fund disposing of substantial U.S. logistics holdings in quick succession.
For LBA, the Southeast transaction moves in the opposite direction, adding 46 buildings across 10 markets in one move.
The transaction expands LBA’s existing national logistics real estate platform rather than marking an entry into the sector.
What changes most visibly is its regional scale.
The acquisition places another 10.5 million square feet under LBA-affiliated ownership across a network of Southeast distribution, port and manufacturing markets. Yet the information needed to judge the investment economics — purchase price, debt amount, occupancy, rents and lease duration — remains private.
Until those figures emerge, the significance of the transaction is best measured in physical rather than financial terms: 46 warehouses and 10.5 million square feet changing hands across 10 logistics markets in a single deal.