Wells Fargo invests in industrial logistics via Elion Partners

Wells Fargo invests in industrial logistics via Elion Partners
Elion Partners' last-mile industrial distribution asset in El Cajon, California

Wells Fargo Real Estate Merchant Bank Makes Equity Commitment to Elion-sponsored Investment Vehicle

Elion Partners (“Elion”), a real estate investment firm, today announced an equity commitment from Wells Fargo Bank N.A. to an Elion-sponsored investment vehicle focused on the acquisition of first, middle and last-mile logistics real estate in targeted infill coastal markets. The investment vehicle holds an existing portfolio of industrial logistics assets.

Overall, Elion’s real estate platform has transacted on $2 billion in assets. As a vertically integrated firm, Elion serves as a fiduciary for its capital partners while operating its underlying portfolio in-house through a dedicated team. The firm’s assets are held in closed-end fund structures and permanent capital vehicles. Elion is a minority-owned registered investment adviser.1

In August 2020, Elion sold a portfolio of 12 last-mile logistics assets in South Florida that were aggregated through one-off off-market transactions. The firm also recently announced its expansion to the West Coast with the acquisition of a last-mile logistics asset in Southern California and has a near term pipeline of additional assets within the region under contract.

“The accelerated need for supply chain efficiencies is driving demand for real estate space throughout the logistics spectrum,” said Juan DeAngulo, Managing Partner at Elion. “We are seeing increased rent growth in supply-constrained coastal markets resulting in tailwinds for the asset class.”

“We are honored to welcome Wells Fargo as a partner, DeAngulo continued. “This investment represents an important milestone in the growth of Elion. We look forward to acting on our pipeline of opportunities and continuing the expansion of Elion’s logistics portfolio across our identified markets.”

“Our longstanding relationship with Elion Partners is the cornerstone of our investment approach,” said Pat Ramge, Senior Vice President and Florida Market Manager, Real Estate Banking at Wells Fargo.

The Real Estate Merchant Bank and Real Estate Banking are groups within Wells Fargo’s Commercial Real Estate platform.

“This investment deepens our relationship with Elion and provides exposure to an attractive asset class with a proven, cycle-tested operator. Wells Fargo is excited to take this next step with Elion Partners,” concluded Ramge.

About Elion Partners

Elion Partners is a real estate investment firm and minority-owned registered investment adviser1. As a vertically integrated platform, Elion is both a fiduciary and operator, managing more than $1.5 billion in real estate assets through closed-end funds and permanent capital investment vehicles. As long-term stewards of capital, principals of Elion invest personally in each of the firm’s funds to ensure alignment of interests and transparency with its capital partners. http://elionpartners.com/

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.92 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,200 locations, more than 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 31 countries and territories to support customers who conduct business in the global economy. Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2020 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

About Wells Fargo Corporate & Investment Banking

Wells Fargo Corporate & Investment Banking delivers a comprehensive suite of capital markets, banking, and financial products and services. A trusted partner to our clients, we provide corporate and transactional banking, commercial real estate lending and servicing, investment banking, equity and fixed income solutions including sales, trading, and research capabilities to corporate, commercial real estate, government, and institutional clients across the globe. Our office locations span the Americas, Europe, and Asia-Pacific.

Wells Fargo Corporate & Investment Banking is part of Wells Fargo. Founded in 1852, Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo.

1 Elion is registered as an investment adviser with the SEC under the Investment Advisers Act of 1940 (the “Advisers Act”). Registration as an investment adviser with the SEC or with any state securities authority does not imply a certain level of skill or training.

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