Elion, a vertically integrated private equity real estate investment firm, has made a series of acquisitions totaling 1.2 million square feet across 10 last-mile logistics assets for $245 million within the New Jersey, Los Angeles, Miami, Seattle and San Diego markets.
Elion’s strategy centers on last-mile logistics real estate and targets locations in supply-constrained, core coastal markets. The deals were completed in the third and fourth quarters of 2021 follow the close of Elion Industrial Fund I which reached its cap of $500 million. The fund has invested in 3.9 million square feet for over $1 billion in gross asset value.
“We are targeting well-located properties with the opportunity to generate appreciation through vacancy lease-up, capital investment and create efficiencies through functionality improvement,” said James Lambert, senior managing director of Industrial Investments at Elion. “Through our relationships and data-driven approach to sourcing opportunities early, we have been able to aggregate a portfolio of primarily pre-marketed assets while identifying value-add opportunities that meet the needs of today’s logistics providers.”