Real estate investment firm Longpoint has acquired a 25-building industrial portfolio in South Florida for $262 million. The 1.4 million-square-foot portfolio in Deerfield Beach comprises 12 locations across the Miami and Fort Lauderdale MSAs. Seagis Group was the seller. The Miami Herald reports it’s the biggest Florida industrial deal in over a year.
“The properties represent our strategy of acquiring high-quality industrial properties in critical logistics hubs. This portfolio offers significant upside opportunity through capital improvements and operational upgrades,” said Longpoints’ Dwight Angelini.
Longpoint is a Boston-based private equity real estate firm with extensive experience in acquiring and operating infill logistics real estate in major U.S. markets.