EastGroup Properties closes $250 million in term loans, acquires land

EastGroup Properties Inc. (NYSE: EGP) reported its portfolio was 97.0% leased and 96.2% occupied as of November 30, 2025, according to a company statement.

During the fourth quarter to date, the industrial real estate investment trust signed 1,057,000 square feet of new and renewal leases with rental rate increases averaging 31.1% on a straight-line basis and 17.1% on a cash basis.

The company executed development leases totaling approximately 454,000 square feet across six markets during the fourth quarter, compared to 115,000 square feet in the third quarter.

In November, EastGroup closed $250 million in senior unsecured term loans divided into two tranches with a weighted average effectively fixed interest rate of 4.13%. Tranche A provides $100 million with an April 2030 maturity, while Tranche B offers $150 million maturing in March 2031.

The company began construction on a 100% pre-leased 113,000 square foot building in Orlando with projected total costs of $16 million.

EastGroup is scheduled to close in mid-December on two fully leased properties totaling three industrial buildings. One property in Jacksonville contains two buildings with 177,000 square feet, while a North Las Vegas property includes a single 101,000 square foot building.

The company acquired three development land parcels during recent months. In October, it purchased 16 acres in Northeast Dallas for $10 million and 34 acres in the same submarket for $15 million. In November, EastGroup acquired 78 acres in Northeast San Antonio for $9 million.

"We are pleased with portfolio performance quarter to date in line to slightly ahead of our expectations," said CEO Marshall Loeb.

EastGroup management is scheduled to participate in Nareit's REITworld conference in Dallas on December 9-10, 2025.

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