NEW YORK–(COMMERCIAL THREAD) – Brookfield Asset Management (“Brookfield”) and Elion Partners (“Elion”), a vertically integrated industrial specialist and sponsor of institutional real estate vehicles, today announced a $ 1 billion strategic partnership expanding the logistics portfolio of Brookfield Real Estate Secondaries through Infill Markets.
Brookfield recapitalized Elion Logistics Park 55 (“ELP 55”), a Chicago master plan industrial park with the potential to develop approximately $ 1 billion in industrial real estate. The project includes five existing Class A industrial assets totaling four million square feet that are 100% leased, as well as the potential to develop up to 15 million square feet of additional industrial properties in the future. The planned logistics park is located next to the BNSF railway line, offers extensive amenities to tenants, including essential travel and repair services, and is funded through tax increases. Park Madison Partners acted as exclusive capital advisor for the recapitalization.
“Industrial logistics real estate continues to experience positive momentum, and now is the logical time to seek long-term capital,” said Juan DeAngulo, Managing Partner of Elion. “This partnership structure and the support of Brookfield will enable Elion to realize the long-term development plans of the ELP 55.”
“We are excited about the partnership with Elion and the opportunity to gain exposure to high quality industrial assets in limited supply markets with significant upside potential,” said Chris Reilly, Managing Partner at Brookfield.
The investment also included an $ 80 million equity commitment to Elion’s latest value-added fund affiliated with Elion, Elion Real Estate Fund V, which closed last month on hitting its cap of $ 500 million. A majority of Fund V’s portfolio has been pre-specified on Brookfield’s commitment, representing more than 3.2 million square feet of logistics real estate in infill coastal markets.
Brookfield, one of the world’s largest real estate investors with more than $ 200 billion in assets under management, launched its Real Estate Secondaries business a year ago. The strategy is geared towards GP investors who seek flexibility and liquidity in the management of their investments in the private market.
About Elion Partners
Elion Partners is a vertically integrated private equity real estate investment firm focused on the industrial sector. Elion is both a fiduciary and an operator, managing over $ 2 billion in real estate assets through closed-end funds and permanent capital investment vehicles. The company is 100% minority owned and the team is over 65% diverse. For more information, please visit www.elionpartners.com.
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About Brookfield Asset Management
Brookfield Asset Management is a leading global alternative asset manager with more than $ 600 billion in assets under management in real estate, infrastructure, renewable energy, private equity and credit. Brookfield owns and operates long-term assets and businesses, many of which form the backbone of the global economy. With its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world, including public and private pension plans, endowment funds and foundations, sovereign wealth funds, financial institutions, insurance companies and private investors.
Brookfield Asset Management is listed on the New York and Toronto Stock Exchanges under the symbols BAM and BAM.A, respectively. For more information, please visit our website at www.brookfield.com or contact:
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