Longpoint, Brookfield recapitalize $700m logistics portfolio through new JV

Longpoint Partners, a Boston-based real estate investment company, has closed its joint venture with Brookfield through its real estate secondaries business. The joint venture has recapitalized a $700 million, 3.8-million-square-foot national logistics portfolio that was held in one of Longpoint’s closed-end funds. Longpoint will maintain an interest in the portfolio and continue to manage the day-to-day operations.

The portfolio comprises 31 high-quality logistics assets located in supply-constrained infill locations in high-growth markets, including New Jersey; Washington, D.C.; Dallas; South Florida; and Boston. The assets are approximately 97-percent leased to a diversified roster of more than 200 tenants.

“In 2015, we created a specialized private equity firm devoted to acquiring and transforming logistics real estate in infill U.S. markets,” said Dwight Angelini, Longpoint’s managing partner. “The 31 properties in this joint venture are a direct result