Longpoint Realty Partners (“Longpoint”), a Boston-based commercial real estate private equity firm, announced the final closing of its second institutional fund, Longpoint Realty Fund II, L.P. (“Fund II”). Fund II was oversubscribed with approximately $669 million of commitments, above its original hard cap of $600 million and almost 50% above its initial target of $450 million.
Building on the success of 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 U.S. markets.
“We are grateful for the ongoing commitment of our existing investors and the support of our new partners,” said Dwight Angelini, Managing & Founding Partner. “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. We look forward to leveraging our proven platform to create value for all our constituents.”
Longpoint’s Fund II has 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.
Hodes Weill Securities, LLC acted as placement agent for Fund. Commenting on the Hodes Weill’s involvement, Angelini stated, “With this highly successful fundraise, Hodes Weill has once again lived up to its reputation as the real estate and funds management industry’s premier capital advisory firm. We could not be more pleased with the outcome, which is a testament to their deep understanding of our business, long-standing relationships and efficient execution.”
At Longpoint we strive to invest with wisdom and insight, to understand the needs of consumers, to develop locally relevant properties, and to implement environmentally sustainable practices. We are committed to operating with integrity, discipline, and enthusiasm in service of our investors and community members. Longpoint takes its name from Long Point Wildlife Refuge, a 600-acre nature preserve on Martha’s Vineyard. Like this unique preserve, our firm is designed to flourish in varied conditions, capitalizing on opportunities in an everchanging marketplace.
ICR for Longpoint Realty Partners