Longpoint Specialty Grocer Fund 1 Exceeds Target with $225M in Capital Commitments

Boston, MA-based real estate investment company Longpoint has closed its Longpoint Specialty Grocer Fund I with $225 million in capital commitments from a diverse mix of institutional investors and exceeding its initial target of $200 million.

Related: Longpoint Partners Invests $43M in Hialeah Specialty Grocery Center

Longpoint 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 like FL, TX and CA.

Once fully deployed, the fund is expected to consist of 17 to 20 shopping centers nationwide. To date, the fund has acquired eight properties representing an aggregate cost of $166 million in Dallas, Miami, Orlando and Los Angeles.

Since inception, Longpoint has invested approximately $2.1 billion across over 100 transactions.

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