Longpoint Partners, a Boston-based private equity real estate firm, has acquired a 10-building industrial portfolio in Florida’s Miami-Dade County for $195 million.
The portfolio encompasses 729,901 square feet on approximately 41.8 acres in the region’s industrial submarkets. The portfolio was 90% occupied by 74 tenants, with an average tenant size of approximately 9,864 square feet.
The company stated the 10 buildings average approximately 72,990 square feet and offer clear heights ranging from 17 to 25 feet, 231 loading positions, front and rear loading.
Dwight Angelini, co-founder and managing partner of Longpoint, said, “Miami has been a core market for Longpoint for years. We have invested across South Florida, built a local team and operating platform, and developed deep relationships throughout the region. This acquisition reflects the conviction and discipline that have guided our work here: acquiring functional, well-located small-bay industrial assets with a diverse tenant base in locations where new supply is difficult to create. Our local presence and vertically integrated platform position us to execute the business plan and create durable value for our institutional investors.”
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