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Boston & New England  + Boston  + Finance  | 
Longpoint Partners has acquired El Paraiso Shopping Center in Hialeah, FL for $43.3 million.

Longpoint Specialty Grocer Fund 1 Exceeds Target with $225M in Capital Commitments

Boston, MA-based real estate investment company Longpoint has closed its Longpoint Specialty Grocer Fund I with $225 million in capital commitments from a diverse mix of institutional investors and exceeding its initial target of $200 million.

Related: Longpoint Partners Invests $43M in Hialeah Specialty Grocery Center

Longpoint Specialty Grocer Fund I advances Longpoint’s strategy to acquire core specialty grocery-anchored neighborhood shopping centers with long-term intrinsic value. The fund targets investments specifically with grocery tenants catering to the unique shopping preferences of a neighborhood’s ethnic, racial or multicultural population and situated in high-growth markets like FL, TX and CA.

Once fully deployed, the fund is expected to consist of 17 to 20 shopping centers nationwide. To date, the fund has acquired eight properties representing an aggregate cost of $166 million in Dallas, Miami, Orlando and Los Angeles.

Since inception, Longpoint has invested approximately $2.1 billion across over 100 transactions.


Inside The Story

Longpoint's Dwight Angelini

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.