Belay Investment Group Makes $75M Equity Commitment with Emerging Manager and Logistics Specialist Elion
Elion Partners (“Elion”), a vertically integrated private equity real estate investment firm, today announced an equity commitment of $75 million from Belay Investment Group to an Elion-sponsored investment vehicle focused on last-mile logistics real estate.
“The capital commitment by Belay represents an important milestone in the institutional growth of Elion’s platform,” said Lindsey Sugar, Senior Managing Director of Capital Markets at Elion. “We are honored to welcome Belay as a partner and look forward to a long-term relationship.”
Elion is a minority-owned emerging manager and a registered investment advisor that has acquired $2 billion of real estate assets since inception. The firm’s investment strategy is focused on last-mile logistics real estate, targeting core logistics hubs in infill coastal markets. Elion is differentiated because of its track record of sourcing pre-marketed transactions, as well as its in-house leasing, accounting and development functions.
Throughout the pandemic, Elion remained active and has deployed $230 million 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,” said Juan DeAngulo, Managing Partner at Elion. “We look forward to acting on our pipeline of compelling opportunities not typically accessible to larger allocators.”
“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,” said Eliza Bailey, Belay’s Managing Principal in charge of Investment and Asset Management activity. “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, Senior Vice President of Investments at Belay 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.”
About Elion Partners
Elion Partners is a minority-owned, vertically integrated, private equity real estate investment firm focused on the industrial sector. Elion is both a fiduciary and operator, managing real estate assets through closed-end funds and permanent capital investment vehicles.
About Belay Investment Group
Belay Investment Group, LLC is a majority woman-owned Los Angeles-based Registered Investment Advisor that pursues value-added investment opportunities, primarily middle-market infill properties in urban/suburban transit hub markets, on behalf of its institutional investors. Belay implements its investment strategies through long-term partnerships established with high caliber, local operating partners and sector specialists. The firm has earned a reputation in the industry for supporting the growth and development of operators and emerging managers (including MWBE firms), beyond providing investment capital.