Boston-based real estate investment firm Longpoint has acquired a three-building light industrial portfolio in Fremont for $31.5 million. Known as The Silicon Valley Portfolio, the 122,168-square-foot portfolio represents Longpoint’s first acquisition in the Bay Area.

“This well-located, highly functional industrial portfolio complements our strategy of investing in properties situated within flourishing markets that have long-term value and growth potential,” said Dwight Angelini, co-founder and managing partner of Longpoint. “We are excited for the future expansion and investment opportunities for our logistics portfolio and operations in this market.”

The Newmark Western Region team of Steven Golubchik, Edmund Najera, Jonathan Schaefler, Darren Hollak handled the transaction. Newmark’s Joe Kelly serves as the exclusive leasing advisor for the portfolio.

“The Silicon Valley Industrial Portfolio generated substantial investor interest, further highlighting the demand for shallow bay industrial product,” said Golubchik. “We are excited to see Longpoint’s future success with the asset.”