US real estate investor Longpoint expands portfolio with $74m purchase

US real estate investor Longpoint expands portfolio with $74m purchase

By IPE staff 13 August 2024

US real estate investor Longpoint Partners has bought $74m (€67.7m) worth of industrial assets in two separate transactions for its third institutional fund.

The Boston-based company’s Longpoint Fund III fund has expanded into the Greater Phoenix market with the acquisition of Midway Commerce Center, a three-building, 301,994sqft light industrial complex in Chandler, and a 68,790sqft industrial facility in Gilbert, both in Arizona.

Dwight Angelini, co-founder and managing partner of Longpoint, said: “We are proud to have executed our initial investments in the Greater Phoenix area. These well-located properties offer a significant value-add opportunity in a key supply-constrained and high-barrier logistics market.

“We believe that both assets will yield accretive value for our investors, and we look forward to the further expansion of our portfolio in this region.”