Longpoint Partners (Longpoint), a Boston-based real estate investment company, has closed its joint venture with Brookfield through its Real Estate Secondaries business.
The joint venture has recapitalised a USD700-million, 3.8 million sq ft 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, DC, Dallas, South Florida, and Boston. The assets are approximately 97 per cent leased to a diversified roster of over 200 tenants.
Read more: Private Equity Wire
