25-building industrial portfolio in South Florida sells for $260m
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. The properties are complementary to our portfolio and represent our strategy of acquiring high-quality industrial properties in critical logistics hubs,” said Dwight Angelini, Co-founder and managing partner of Longpoint. “This portfolio offers significant upside opportunity through capital improvements and operational upgrades.”
The portfolio consists of properties situated in highly strategic locations along or near major transportation arterials, allowing tenants to efficiently service South Florida’s population c