Boston-based Longpoint has completed the final closing of its Longpoint Specialty Grocer Fund I with a total of $225 million of capital commitments. The capital came from a diverse mix of institutional investors exceeding its initial fundraising target of $200 million.
Longpoint is a vertically integrated private equity real estate firm with deep domain experience in acquiring and operating infill logistics real estate and grocery-anchored centers in major U.S. markets. Building on Longpoint’s prior investments in the grocery sector, Specialty Grocer Fund I advances Longpoint’s strategy to acquire core specialty grocery-anchored neighborhood shopping centers with long-term intrinsic value.
The fund targets investments specifically with grocery tenants catering to the unique shopping preferences of a neighborhood’s ethnic, racial or multicultural population and situated in high-growth markets such as Florida, Texas and California.
“In 2015, we set out to