Longpoint Realty Partners has raised $940m (€892m) from global investors at the final close of its third institutional fund, beating its original target of $750m.
Longpoint Fund III targets small to medium-sized industrial assets in primary US markets, including Atlanta, Boston, Dallas, New York/New Jersey, South Florida, Southern California and Washington DC/Baltimore.
Dwight Angelini, managing and founding partner at Longpoint, said: “The fund will serve our logistics clients by creating functional warehouse nodes close to population centres.
“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 $2.1bn across more than 100 transactions.
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