Swedish private equity firm EQT has agreed to buy U.S. real estate investment manager Exeter Property Group for $1.9 billion in cash and shares.
The deal is part of EQT’s strategic plans of building a globally scaled real estate platform.
Exeter has more than $10 billion of assets under management. It buys, develops and manages logistics and industrial space, as well as some office and residential properties, primarily in the United States and Europe. For 2020, it expects to report approximately $135 million in revenue and $80 million in EBITDA.
