Longpoint, a Boston-based real estate firm, has successfully closed its third institutional fund, Longpoint Fund III, L.P. (Fund III), with commitments totaling approximately $940 million. This surpasses the original target of $750 million and highlights the strong demand for industrial assets in key markets such as Atlanta, Boston, Dallas, New York/New Jersey,
South Florida,Southern California,and Washington D.C./Baltimore.
According to Dwight Angelini,the managing and founding partner at Longpoint,the fund will cater to logistics clients by developing functional warehouse nodes near densely populated areas.The company utilizes proprietary analytical tools and leverages established relationships along with extensive industry experience to acquire underperforming industrial properties in supply-constrained infill locations.These properties are then upgraded to meet modern logistical standards.
With a track record of over $2.1 billion invested in more than 100 transactions,and having managed over $10 billion worth of real estate assets in their target markets,this latest fund adds another milestone for Longpoint.Hodes Weill Securities LLC served as the placement agent for this successful fundraising effort,enlisting investments from various global institutions.
The article “Longpoint Closes $940M Institutional Fund” was originally published on Connect CRE.
