Longpoint Closes $225M Specialty Grocer Fund

Boston, MA-based real estate investment company Longpoint announced the final closing of Longpoint Specialty Grocer Fund I.

The Fund raised a total of $225m in capital commitments from a diverse mix of institutional investors exceeding its initial target of $200m.

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 Florida, Texas and California.

Led by Dwight Angelini, Managing & Founding Partner, Longpoint will apply its proprietary analytical tools and experience in the specialty grocery-anchored space to acquire high-potential neighborhood centers and implement its investment and operational strategy across the portfolio. 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, the firm has invested approximately $2.1 billion across over 100 transactions. The firm is led by founding partners Dwight Angelini, Nilesh Bubna, Reid Parker, and Robert Provost III, who average more than 20 years of industry experience including over 15 years working together.

Founded in 2015, Longpoint has offices in Atlanta, Boston, Dallas, Los Angeles, Miami, New Jersey, and Washington DC.