EQT Exeter Real Estate Income Trust, Inc. 8-K

What Happened

• On December 30, 2025, EQT Exeter Real Estate Income Trust, Inc. filed an 8-K reporting that an indirect subsidiary acquired a 76,007 sq ft last‑mile industrial facility on ~9.6 acres in Torrance, CA. The property (built in 2000) was acquired via a sale‑leaseback from Frito‑Lay Sales, Inc.; closing occurred December 23, 2025.
• The Torrance Buyer (the Company’s indirect subsidiary) leased the property back to Frito‑Lay under a lease running through December 31, 2035, with two five‑year extension options. Monthly rent is $216,619.95 with annual 3.0% escalations. The purchase price was approximately $51.5 million, funded with the Company’s cash on hand (primarily proceeds from its stock offerings).
• The Company also entered a property management agreement with EQT Real Estate Advisors, LLC (an affiliate) on December 23, 2025; the agreement renews annually unless timely terminated and provides for management fees, leasing commissions (subject to market rates and caps) and reimbursement of reasonable expenses.
• Separately, the Company declared December 2025 distributions for all outstanding common stock classes: gross distribution per share of $0.04326 (net for Class T stock $0.03546 after a $0.00780 fee). Record date is December 31, 2025 and payments will be made on or about January 12, 2026 (cash or reinvested shares for DRIP participants).

Key Details

• Property: 76,007 sq ft last‑mile industrial on ~9.6 acres in Torrance, CA; 100% leased to a single tenant (Frito‑Lay).
• Purchase price: ~ $51.5 million (excluding closing costs); acquisition funded with cash on hand from share offering proceeds.
• Lease terms: Lease from closing through 12/31/2035 plus two 5‑year extension options; monthly rent $216,619.95 with 3.0% annual escalations.
• Distributions: Gross distribution per share $0.04326; Class T net after fee $0.03546; payable ~Jan 12, 2026; record date 12/31/2025.

Why It Matters

• The acquisition adds a fully leased last‑mile industrial asset in Southern California to the Company’s portfolio, providing predictable rental income under a long‑dated lease with built‑in 3% annual rent escalations.
• The purchase used cash on hand (mainly offering proceeds), so investors should note the use of capital and the added recurring lease income versus alternative uses (not discussed in the filing).
• The property will be managed by an affiliated manager under a contract that generates management fees and reimbursable expenses, which affects operating costs and related‑party considerations.
• The declared distributions provide near‑term cash (or reinvestment) to shareholders; Class T holders will receive a lower net amount due to a distribution fee.