Longpoint Partners is expanding its footprint in South Florida, making a $195 million industrial bet in Miami-Dade County.

The latest acquisition of the 10-building portfolio, from the private equity firm’s point of view, speaks to Miami’s growth drivers. This includes the city’s increasing population, as well as proximity to major transportation infrastructure and consumer markets.

These all provide tailwinds for well-located industrial space in the market, according to Longpoint. Also, supply remains limited for infill product in the market.

Then there are the highlights of the portfolio itself, which was 90 percent occupied by 74 tenants at the time of purchase.

The buildings average roughly 72,990 square feet, with features including 231 loading positions, clear heights of up to 25 feet, a 40 percent floor area ratio and rear and front loading configurations. The portfolio spans 729,901 square feet in total.

“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.

“Our local presence and vertically integrated platform position us to execute the business plan and create durable value for our institutional investors.”

This move adds to another big bet Longpoint made in South Florida in recent years. In 2023, the Boston-based firm acquired a 1.4 million square foot portfolio spanning 12 locations across the Miami and Fort Lauderdale metro areas, for $262 million. This was the largest single industrial deal recorded during that year in the state.

On top of that, Longpoint operates offices in Miami and Fort Lauderdale.
Moreover, Longpoint is a major player in the grocery sector. According to the company, it operates 22 centers in 15-plus markets, which average a 94 percent occupancy rate. One of its featured locations is Trail Plaza, a roughly 182,000-square-foot center in Miami.