Elion Partners has invested $216m (€179m) to buy four last-mile logistics assets in the US.
The private equity real estate investment firm said the assets, which were acquired from various sellers, are located within the Seattle, San Francisco, Southern California and New York markets
The acquired assets include the 4225 Hacienda Drive asset in Pleasanton, California, the 182-20 Liberty Ave asset in Jamaica, New York, the 555-589 Monster Road SW asset in Renton, Washington and the 6212 Corte del Abeto asset in Carlsbad, California. In all, the assets total 864,000sqft.
The company said the deal is a part of a series of acquisitions the firm has planned for its portfolio aggregation strategy across key coastal logistics markets.
James Lambert, a senior managing director of industrial investments at Elion Partners, said: “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.”
To read the digital edition of the latest IPE Real Assets magazine click here.