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Longpoint Realty Fund II Closes at $669M, Nearly Double Target
Boston-based Longpoint Realty Partners has closed its second institutional fund, Longpoint Realty Fund II, L.P., oversubscribed with approximately $669 million of commitments. This amount is above its original hard cap of $600 million and almost 50% above its initial target of $450 million.
Hodes Weill Securities, LLC, acted as placement agent for fund.
Longpoint’s Fund II garnered commitments from 24 investors and the support of four consultants. Fund II, which had its first closing in April 2020, has already closed on 26 investments representing $327 million in gross transaction size.
Building upon Longpoint’s debut fund, which garnered $280 million, Fund II supports Longpoint’s on-going strategy to invest in infill industrial and neighborhood shopping centers located in desirable densely populated US markets.
“At Longpoint we focus on understanding the consumer, technological shifts, and evolving supply chain dynamics in order to best provide real estate solutions for logistics challenges,” said Dwight Angelini, managing and founding partner.
