US real estate investment firm Longpoint Partners has acquired a 26-building industrial portfolio in South Florida for $331.3m (€312.6m).
Boston-based Longpoint Partners said the 1.4m sqft portfolio is located across Miami-Dade, Broward and Palm Beach counties.
The portfolio includes light industrial properties located in key infill areas, with a combined occupancy rate of 97% at the time of sale. The buildings were constructed between 1964 and 2003.
Dwight Angelini, co-founder and managing partner of Longpoint Partners, said: “This acquisition offered us the opportunity to significantly expand our footprint in South Florida, complementing our consistent and proven strategy to invest in high-quality industrial properties located in major logistics markets.
“Executing on our value-add strategy and specialised operational expertise will allow us to maximise the long-term value of this portfolio.”
CBRE represented the seller in the transaction.
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