MIAMI--(BUSINESS WIRE)--Elion Partners, a real estate investment firm, today announced that it has acquired a 93,636-square-foot last-mile industrial distribution asset, formerly a Bennett Auto Supply Distribution Center, located at 3141 SW 10th Street in Pompano Beach, FL.
The $12 million acquisition is a part of a series of acquisitions the firm has planned for its last-mile portfolio aggregation strategy across key logistics markets, including Broward and Miami-Dade County.
“The supply-constrained location of Pompano Beach and its close proximity to rooftops will complement our last-mile portfolio well,” said Shlomo Khoudari, Managing Partner at Elion. “In addition, this asset will benefit our South Florida portfolio by providing immediate operational cost-saving efficiencies.”
The firm plans to continue to pursue an investment strategy focused on first, middle and last-mile logistics real estate, targeting core, urban logistics hubs near large population centers in infill coastal markets. This month, the firm also announced an $83 million acquisition of last-mile industrial distribution assets positioned across the West Coast, located in Seattle, San Francisco and Southern California. Elion’s investment vehicles hold an existing portfolio of last-mile logistics real estate across the U.S.
Earlier this summer, Elion sold a portfolio of 12 last-mile distribution assets representing 700,000 square feet in South Florida. The firm aggregated the portfolio through one-off off-market transactions throughout 2018 and 2019. As a vertically integrated firm, Elion owns and operates logistics assets in closed-end fund structures and permanent capital vehicles.
About Elion Partners
Elion Partners is a real estate investment firm and minority-owned registered investment adviser. As a vertically integrated platform, Elion is both a fiduciary and operator, managing more than $1.6 billion in real estate assets through closed-end funds and permanent capital investment vehicles. Since its founding in 2010, principals of Elion invest personal capital in each of the firm’s funds to ensure the utmost alignment of interests and transparency with its partners. http://elionpartners.com/
