Private equity real estate investment firm Elion Partners (Elion) has purchased four last-mile logistics assets, totaling 864,000 square feet, in the Seattle, San Francisco, Southern California and New York markets for $216 million.
The firm’s investment strategy is focused on last-mile logistics real estate, targeting core, urban logistics hubs near large population centers in infill coastal markets.
The recent acquisitions were individually sourced pre-market from various sellers and is a part of a series of acquisitions the firm has planned for its portfolio aggregation strategy across key coastal logistics markets.
“By focusing on the attributes prudent to logistics real estate such as clear height, excess parking and drive-around truck access, we have been able to identify value add opportunities that meet the needs of today’s logistics providers. These acquisitions provide additional exposure to high-quality assets in core locations, and we look forward to continuing the expansion of our last-mile portfolio,” said James Lambert, Senior Managing Director of Industrial Investments at Elion.
The transactions consisted of 4225 Hacienda Drive in Pleasanton, California (390,000 sq. ft.; closed April 29th), 182-20 Liberty Ave in Jamaica, New York (180,000 sq. ft.; closed April 27th), 555-589 Monster Road SW in Renton, Washington (224,000 sq. ft.; closed April 26th), and 6212 Corte del Abeto in Carlsbad, California (70,000 sq. ft.; closed March 11th).