EQT Real Estate, operating through its Industrial Value Fund V, has completed the sale of a 46-building logistics portfolio totaling approximately 10.5 million square feet across 10 southeastern U.S. markets to an affiliate of California-based LBA Realty, according to a press release.

The portfolio spans markets in the Carolinas, Georgia, Florida, and Alabama, including Charlotte, Greensboro, Greenville-Spartanburg, Atlanta, Savannah, Tampa, Orlando, Jacksonville, Birmingham, and Huntsville. The buildings average roughly 230,000 square feet each and serve a range of uses including third-party logistics, regional distribution, advanced manufacturing, and bulk distribution.

Matthew Brodnik, Global Chief Investment Officer at EQT Real Estate, said: "People and industry continue moving to the Southeast, and logistics demand has followed both. We identified that theme clearly when we acquired this portfolio, and our local teams did fantastic work adding value through leasing and hands-on management, building by building."

No financial terms for the transaction were disclosed. EQT Real Estate was advised by John Huguenard, Trent Agnew, and Will McCormack of JLL.