Belay Investment puts $75m investment into Elion logistics fund

Belay Investment, a Los Angeles-based value-add real estate investor, has made a $75m (€63m) commitment to a last-mile logistics fund managed by emerging manager Elion Partners.

Eliza Bailey, a managing principal in charge of investment and asset management activity at Belay Investment, said: “It’s ideal when an operator is able to combine the energy, passion, and entrepreneurial spirit of an emerging manager with the wisdom and capabilities cultivated over decades of real estate operations, as is the dynamic at play at Elion Partners.

“We at Belay have been impressed by Elion’s measured and strategic approach to growth while building out a best-in-class team of sector specialists, and we’re thrilled to be working alongside them at this pivotal moment in Elion’s ascendance as they build a presence in the institutional world.”

Jake Loughridge, a senior vice president of Investments at Belay Investment, said: “This was a very exciting opportunity to invest into a seed portfolio of high quality, well-located, cash flowing industrial assets.

“Underwriting the seed assets provided the ability for Belay to both experience Elion’s asset management process in real-time and evaluate its underwriting capabilities.”

Lindsey Sugar, a senior managing director of capital markets at Elion Partners, said: “The capital commitment by Belay represents an important milestone in the institutional growth of Elion’s platform. We are honoured to welcome Belay as a partner and look forward to a long-term relationship.”

Juan DeAngulo, a managing partner at Elion Partners, said, throughout the pandemic, Elion remained active and has deployed $230m in equity to date for its latest investment vehicle and is continuing to identify compelling pipeline acquisitions in line with its investment strategy.

“Our ground-level approach to sourcing opportunities early, beyond bidding wars, has allowed us to keep our basis low in an environment where pricing is inflating.

“We look forward to acting on our pipeline of compelling opportunities not typically accessible to larger allocators.”

Elion Partners is a private equity real estate investment firm focused on last-mile logistics real estate, targeting core logistics hubs in infill coastal markets. 

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