EQT Exeter REIT Expands Industrial Footprint With $51.5M Acquisition
EQT Exeter Real Estate Income Trust Inc., a publicly registered non-traded real estate investment trust externally advised by Exeter Property Group LLC, ended 2025 with a major industrial acquisition in Southern California, as well as announcing December monthly distributions for stockholders.
Just ahead of Christmas, it acquired a 76,007 square foot last-mile industrial facility located in Torrance, Calif. The property, purchased for $51.5 million in cash, sits on approximately 9.6 acres in the high-demand Los Angeles submarket.
The property was acquired through a sale-leaseback agreement with an affiliate of Frito-Lay Sales Inc., a subsidiary of global food and beverage giant PepsiCo Inc. The facility, originally built in 2000, serves as a mission-critical warehouse and distribution hub for the tenant’s diverse portfolio of beverages and snacks.
The lease terms include a 100% occupancy lease back to the seller through Dec. 31, 2035, and features 3% annual rent escalations.
The REIT’s acquisition reportedly yields an initial annualized base rent of approximately $2.98 million, representing an average rental rate of $39.19 per square foot over the 10-year term.
Additionally, the company’s board of directors declared regular monthly gross distributions for December of for all shares of common stock – Class E, I, A-I, A-II, and T – in the amount of $0.04326 for shareholders of record as of Dec. 31, 2025.
The net distributions will be paid on or about Jan. 12, 2026, and will be paid in cash or reinvested in shares of the company’s common stock for stockholders participating in the distribution reinvestment plan.
Also, the company reported a total net asset value of $286.8 million as of Nov. 30, an approximate 1.39% increase from Oct. 31’s $282.9 million.
Previously reported by AltsWire, the REIT led the Stanger NAV REIT Total Return Index Q2 2025 rankings with three-month returns of 3.5%.
The company’s public offering was declared effective by the U.S. Securities and Exchange Commission in August 2023. It is currently offering on a continuous basis up to $5 billion in shares of its common stock, consisting of up to $4 billion in shares in the primary offering and up to $1 billion in shares pursuant to its distribution reinvestment plan.
As of Dec. 15, 2025, it had sold approximately 534,431 Class I shares and approximately 223 Class T shares in the primary offering for gross offering proceeds of approximately $5.6 million. It issued approximately 10,296 Class I shares pursuant to its distribution reinvestment plan for a total value of approximately $109,808. The REIT had not sold any Class S or Class D shares in this offering as of Dec. 15.
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