Boston-based real estate investment firm Longpoint Realty Partners announced the final closing of its third institutional fund, Longpoint Fund III L.P. (Fund III).
According to the company, Fund III was oversubscribed, with approximately $940 million of commitments that surpassed the original target of $750 million. Fund III will be used to advance the firm’s strategy of acquiring well-located, underutilized industrial assets in major U.S. markets at attractive prices.
“The fund will serve our logistics clients by creating functional warehouse nodes close to population centers,” said Dwight Angelini, managing and founding partner at Longpoint. “Today’s supply chain took shape in the middle of the 20th Century. In 1956, the same year that President Dwight Eisenhower signed into law the Federal Highway Act, the first intermodal shipping container made its maiden voyage from Newark, New Jersey, to Houston, Texas.”
“In the present era,” Angelini added, “advances in technology, changing consumer shopping patterns, and demand for a resilient, efficient, and flexible supply chain have created significant investment opportunities in the industrial sector. 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.”