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Brookfield Recapitalizes Elion’s Park 55 in $1B Partnership
Brookfield Asset Management and Elion Partners have launched a $1-billion strategic partnership expanding Brookfield’s Real Estate Secondaries’ logistics portfolio across core infill markets. As part of the partnership, Brookfield recapitalized Elion Logistics Park 55, a master-planned park in Wilmington, IL with the potential to develop approximately $1 billion of industrial real estate.
The ELP 55 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 additional square feet in the future. Park Madison Partners acted as the exclusive capital advisor for 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 at Elion. “This partnership structure and Brookfield’s support will enable Elion to fulfill the long-term development plans for ELP 55.”
- ◦Sale/Acquisition
- ◦Development
- ◦Financing