Longpoint Buys Miami-Dade Warehouse Portfolio for $195M – Commercial Observer
Longpoint Partners has dropped $195 million on a 10-building industrial portfolio in Miami-Dade County, the Boston-based private equity firm announced.
The portfolio, composed of small-bay properties, spans 729,901 square feet across 41 acres. The buildings average about 73,000 square feet with clear heights ranging from 17 to 25 feet. They’re 90 percent leased to 74 tenants, each occupying an average 10,000 square feet.
“This acquisition reflects the conviction and discipline that have guided our work here: acquiring functional, well-located small-bay industrial assets with a diverse tenant base in locations where new supply is difficult to create,” Dwight Angelini, co-founder and managing partner of Longpoint, said in a statement.
A representative for Longpoint has yet to provide the addresses of the properties or the name of the seller.
Since 2023, Longpoint Partners has been making sizable, bulk purchases of South Florida industrial properties. It has spent nearly $600 million on 51 buildings in two portfolio acquisitions. More recently in July, the firm bought three fully leased warehouses, totaling 121,579 square feet, for $39 million.
Longpoint Partners also specializes in grocery-anchored retail properties. In June, it sold a 71,191-square-foot asset near Boynton Beach to Publix for $24 million.
Julia Echikson can be reached at jechikson@commercialobserver.com.
