Ropes & Gray advised Longpoint, a Boston-based real estate investment firm, on the closing of its third institutional fund, Longpoint Fund III, L.P. (“Fund III”). The fund was oversubscribed, with approximately $940 million of commitments, well above its original target of $750 million. The closing was announced in a press release.
Building on the success of Longpoint’s prior industrial investment vehicles, Fund III seeks to advance the firm’s strategy of acquiring well-located, underutilized industrial assets in major U.S. markets at attractive prices. Ropes & Gray has assisted Longpoint in raising more than $1.8 billion over the past three years.
The team was led by asset management partners Matt Posthuma and George Raine, tax partner Kristen Chang Winckler and asset management counsel Zakk Wedemeyer.
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