Longpoint Raises Nearly $1B for 3rd Industrial Fund
Longpoint Realty Partners, a Boston-based real estate investment firm, has raised nearly $1 billion for its third fund, Longpoint Fund III, L.P., well above its original $750 million target.
The $940 million Fund III will continue the firm’s strategy of acquiring well-located, underutilized industrial assets in major US markets, including small- to mid-sized investments in Atlanta, Boston, Dallas, New York/New Jersey, South Florida, Southern California and Washington DC/Baltimore.
“We leverage proprietary analytical tools, established relationships, and deep industry and market experience to acquire underperforming industrial assets in supply-constrained infill locations and then upgrade them to meet modern logistical standards,” said founder and managing partner Dwight Angelini.
Longpoint has invested about $2.1 billion across more than 100 deals since it was founded in 2015.
The fund recently received a $55 million commitment from the Texas Employees’ Retirement System. Longpoint’s sophomore fund closed in 2021 after raising around $669 million, while its debut fund closed in 2019 after raising $280 million.