Private equity real estate investment firm Elion has bought $245m (€212m) worth of US last-mile logistics assets.
Elion said it has, in a series of deals, bought the 10 logistics assets located within the New Jersey, Los Angeles, Miami, Seattle and San Diego markets.
The acquisitions, which total 1.2m sqft, were completed during the third and fourth quarters of 2021 on behalf of the Elion Industrial Fund I fund.
James Lambert, senior managing director of industrial investments at Elion, said: “We are targeting well-located properties with the opportunity to generate appreciation through vacancy lease-up, capital investment and create efficiencies through functionality improvement.
“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.”
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