Boston-based real estate investment firm Longpoint has acquired a 25-building industrial portfolio in South Florida for $262 million.
The 1.4 million-square-foot portfolio comprises 12 locations across the Miami and Fort Lauderdale MSAs. These acquisitions further expand Longpoint’s presence throughout many of the most attractive infill submarkets in Florida.
“We are pleased to have worked with Seagis Property Group on this transaction,” said Dwight Angelini, co-founder and managing partner of Longpoint. “The properties are complementary to our portfolio and represent our strategy of acquiring high-quality industrial properties in critical logistics hubs. This portfolio offers significant upside opportunity through capital improvements and operational upgrades.”
The portfolio consists of properties in highly strategic locations along or near major transportation arterials, allowing tenants to efficiently service South Florida’s population of 6.5 mil