Source: Connect Media
Swedish private equity firm EQT has agreed to acquire Exeter Property Group for approximately US$1.9 billion. The combination with Conshohocken, PA-based Exeter will create “a scaled, global real estate investment platform, adding one of the largest and well performing value-add real estate investment managers in the world to EQT’s successful platform,” EQT said Tuesday.
“EQT is a fantastic strategic and cultural fit for our business,” said Ward Fitzgerald, Exeter’s CEO and founder. “For our day-to-day activities, it will be business as usual. We will continue to be fully focused on driving returns by utilizing our unique local execution of small and mid-cap acquisitions, adhering to our real estate solutions ethic to our over 1,200 corporate client/tenants and directly performing our own leasing, property management and development.
Founded in 2006, Exeter focuses on acquiring, developing and managing logistics/industrial, life science/office and residential properties mainly across the U.S. and Europe.