Longpoint Closes Third Fund With U.S., Global Investors
BOSTON – October 18, 2023 – Boston-based real estate investment firm Longpoint announced today the final closing of its third institutional fund, Longpoint Fund III, L.P. (Fund III). Fund III was oversubscribed, with approximately $940 million of commitments, well above its original target of $750 million.
Building on the success of Longpoint’s prior industrial investment vehicles, Fund III seeks to advance the firm’s strategy of acquiring well-located, underutilized industrial assets in major U.S. markets at attractive prices. The fund will specifically target small to mid-sized investments in primary U.S. markets, including Atlanta, Boston, Dallas, New York/New Jersey, South Florida, Southern California, and Washington D.C./Baltimore.
“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, NJ to Houston, TX. In the present era, 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.”
Since inception, Longpoint has invested approximately $2.1 billion across more than 100 transactions. The firm’s founding partners and principals Dwight Angelini, Nilesh Bubna, Reid Parker, and Robert Provost III each average more than 25 years of industry experience and have managed more than $10 billion of real estate assets in the fund’s target markets during their careers.
Hodes Weill Securities, LLC acted as placement agent for the fund, which secured investments from a diverse mix of global institutions, including sovereign wealth funds, public and corporate pensions, insurance companies, endowments, foundations, and family offices, among others.
Headquartered in Boston, MA, Longpoint is a vertically integrated private equity real estate firm with extensive experience in acquiring and operating infill logistics real estate in major U.S. markets. Longpoint chooses its investments and value creation strategy based on an analytical process that incorporates key drivers impacting the global supply chain restructuring, demographic shifts, and consumer shopping patterns. Longpoint is minority-owned and is registered as an investment adviser with the SEC. Founded in 2015, Longpoint has offices in Atlanta, Boston, Dallas, Los Angeles, Miami, New Jersey, and Washington DC.
Megan Kivlehan and Mallory Cohen