Longpoint Realty Partners beat hard cap to close Fund II on $669m, doubles size of Fund I


Commercial real estate PE firm Longpoint Realty Partners has beaten its hard cap to close its second fund on $669m, almost 50% above its initial target of $450m.

The vehicle doubled the size of its predecessor Fund I which was closed on $280m in 2019.

Fund II will continue the strategy to invest in infill industrial and neighbourhood shopping centers located in desirable, densely populated US markets, the firm said.

It has already been tapped for 26 investments representing $327m in transaction size.

Managing and founding partner Dwight Angelini said, “We are grateful for the ongoing commitment of our existing investors and the support of our new partners. 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.”

Hodes Weill Securities, LLC acted as placement agent for Fund.

Other private equity firms have also been pulling in money for real estate investments.

Ares Management surged past its goal for its latest European property fund to reach a €1.5bn final close last month.

Spanish asset management house Alantra also held a €132m close for its private debt real estate fund last month, exceeding its initial target of €100m.

Late last year, Asian asset manager Keppel Capital has hit a $400m first close for its debut real estate fund focused on Vietnam.

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