Longpoint Realty raises $280m

The Boston-based real estate firm held a final close of its debut Value-add fund.

Longpoint Realty Partners has closed its debut fund, Longpoint Realty Fund I, at $280 million, falling shy of its $375 million target. The value-add fund looks to invest capital raised in distressed real estate throughout the United States within the industrial and retail sectors, specifically shopping centers in select neighborhoods.

The Massachusetts firm’s inaugural fund received several commitments from companies throughout North America and Europe including family offices, endowments, foundations and pensions. Atlantic-Pacific Capital was the fund’s placement agent.