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NEW YORK — July 23, 2026
Executive Summary
ING Capital LLC has arranged a fully underwritten $268 million acquisition facility for EQT Real Estate’s Core Plus Fund IV, supporting the purchase of an 11-property logistics portfolio spanning 2.8 million square feet across six high-growth U.S. logistics markets. The financing strengthens the long-standing relationship between ING and EQT Real Estate, while supporting investment in fully leased, modern industrial assets serving a diverse range of commercial tenants.
Announcement Overview
ING Capital LLC announced the completion of a $268 million acquisition financing for EQT Real Estate’s Core Plus Fund IV, enabling the acquisition of a diversified portfolio of institutional-quality logistics properties across the United States. The portfolio combines modern industrial specifications, long-duration lease commitments and exposure to multiple tenant industries. The transaction also reflects the expanding relationship between ING and EQT Real Estate across both the United States and Europe, while reinforcing continued institutional investment in logistics real estate supported by resilient market fundamentals.
Key Announcement Details
- Announcement Type: Acquisition financing
- Announcing Entity: ING Capital LLC
- Announcement Date: July 23, 2026
- Dateline: NEW YORK
- Financing Amount: $268 million
- Facility Type: Fully underwritten acquisition facility
- Borrower: EQT Real Estate Core Plus Fund IV
- Transaction Purpose: Logistics portfolio acquisition
- Portfolio Size: 11 logistics assets
- Total Area: 2.8 million sq. ft.
- Markets Covered: Six high-growth U.S. logistics markets
- Portfolio Occupancy: Fully leased
- Average Building Age: 2014
- Average Clear Height: 33 feet
- Average Dock Doors: 22 dock-high doors per asset
- Weighted Average Lease Term: Seven years
- Tenant Industries: Food & beverage, packaging, bulk transport, e-commerce, aviation
- Property Mix: 63% bulk distribution; 26% light industrial; 11% last-mile distribution
- Strategic Objective: Finance institutional logistics acquisition
- Relationship Scope: Expands ING–EQT partnership in the U.S. and Europe
- EQT Parent Organization: EQT AB
- EQT Headquarters: Stockholm, Sweden
- EQT Total AUM: €291 billion (as of 30 June 2026)
- EQT Real Estate AUM/GAV: About $59 billion
- ING Business: Wholesale financial services
- Primary Benefit: Acquisition financing for diversified logistics portfolio
Transaction Overview
ING Capital LLC has completed financing for EQT Real Estate’s latest logistics acquisition by providing a fully underwritten acquisition facility valued at $268 million.
The financing supports Core Plus Fund IV, managed by EQT Real Estate, in acquiring a portfolio consisting of 11 institutional-quality logistics assets located across six strategically important U.S. logistics markets.
According to the announcement, the transaction further expands the commercial relationship between ING and EQT Real Estate, following previous collaborations across both North American and European markets.
The acquisition includes:
- 11 logistics properties
- 2.8 million square feet of total space
- Assets located across six high-growth U.S. logistics markets
- Financing structured through a fully underwritten acquisition facility
Portfolio Characteristics
The acquired portfolio consists entirely of leased logistics properties designed to support modern industrial operations.
Portfolio highlights include:
- 100% leased portfolio
- Average building age: 2014
- Average clear height: 33 feet
- Average of 22 dock-high doors per property
- Weighted average lease term of seven years
The combination of relatively modern construction, long-term occupancy and industrial specifications positions the portfolio to serve a broad range of logistics and distribution requirements.
Property Mix
The portfolio includes multiple industrial asset categories intended to provide operational diversity.
Property allocation consists of:
- 63% Bulk distribution facilities
- 26% Light industrial assets
- 11% Last-mile distribution facilities
This mix provides exposure to several segments of the logistics and industrial real estate market, ranging from large-scale regional distribution to facilities positioned closer to end consumers.
Tenant Diversification
The portfolio serves tenants operating across multiple industries, providing sector diversification rather than concentration in a single business segment.
Tenant industries include:
- Food and beverage
- Packaging
- Bulk transportation
- E-commerce
- Aviation
The variety of tenant sectors reflects demand from businesses supporting manufacturing, transportation, consumer commerce and supply chain operations.
Commercial Real Estate Financing Strategy
ING stated that the financing demonstrates its ability to structure solutions for large institutional portfolio acquisitions.
Craig Bender, Managing Director and Head of Commercial Real Estate for the Americas, ING Capital LLC, said:
“This transaction reflects the creative, flexible financing solutions our real estate team is able to bring to sponsors navigating complex portfolio acquisitions.”
Discussing market conditions and the relationship with EQT Real Estate, he added:
“Logistics fundamentals remain strong, and we are pleased to support EQT Real Estate, one of the premier real estate platforms in the US. This deal reflects our commitment to supporting our most important sponsor clients across sectors, products and ING’s global network.”
According to ING, the financing aligns with its broader strategy of supporting sponsor clients through its commercial real estate platform and international banking network.
Relationship Between ING and EQT Real Estate
The companies indicated that the transaction builds upon an expanding working relationship developed across multiple regions.
The latest financing follows collaboration between the organizations in both:
- United States
- Europe
The continued relationship reflects ongoing cooperation in institutional real estate financing and investment activity.
EQT Real Estate’s Perspective
Brian Ford, Managing Director, EQT Real Estate, commented on the collaboration:
“ING has become a trusted partner in the US and Europe.”
Regarding the execution of the financing, he added:
“Their team was able to move with the speed and flexibility we needed. We look forward to continuing to build on this partnership.”
The company indicated that the transaction represents another milestone in its ongoing relationship with ING.
About EQT Real Estate
EQT Real Estate operates as the real estate business of EQT AB, the Stockholm-headquartered global investment organization.
According to the announcement, the organization:
- Manages more than €291 billion in assets across multiple sectors and geographies.
- Serves more than 100 institutional investors globally.
- Oversees more than $59 billion in assets under management through its real estate platform.
The broader EQT organization reported, as of 30 June 2026, the following:
- EUR 291 billion in total assets under management.
- EUR 155 billion in fee-generating assets under management.
- Operations across three business segments:
- Private Capital
- Infrastructure
- Real Estate
Within its real estate platform, EQT acquires, develops, leases and manages logistics and residential properties across the Americas, Europe and Asia.
Additional operational metrics disclosed include:
- Approximately $59 billion in gross asset value.
- More than 2,000 properties.
- Approximately 450 million square feet owned and operated.
- More than 400 professionals.
- Presence across 50 global locations.
About ING Americas
ING Americas is the brand under which ING conducts its wholesale banking business throughout the Americas region. In the United States, operations are conducted through ING Financial Holdings Corporation and its subsidiaries. ING Financial Holdings Corporation is a wholly owned subsidiary of ING Bank N.V., which forms part of ING Groep N.V.
The company provides wholesale financial products and services for corporate and institutional clients, including:
- Lending
- Corporate finance
- Financial markets products
- Capital markets services
- Other wholesale banking solutions
The announcement also notes that ING Group does not hold a banking license in the United States. Banking activities within the U.S. are therefore conducted through ING Financial Holdings Corporation and its subsidiaries.
Media Contact
For additional information, visit ING.com.
Source Attribution
Source: Company announcement
