Rockpoint buys Massachusetts industrial facility for $120m

PERE Deals

By McKenna Leavens

The Boston firm has made 13 industrial investments since 2020.

Boston-based investment firm Rockpoint has acquired an industrial distribution facility in Uxbridge, Massachusetts, for $120 million, according to a source familiar with the deal. 

Uxbridge Distribution Center is a 70- acre site completed in 2023. It is currently 73 percent occupied with long-term leases, according to a February 6 company statement. The seller was not disclosed. Rockhill Management, Rockpoint’s property services affiliate, will manage the distribution center. 

Rockpoint has made 13 industrial investments since 2020, according to the firm. 

“As we grow our industrial portfolio, this newly constructed, high-quality property represents a compelling investment opportunity in a high barrier-to-entry market that we know well,” Fred Borges, senior managing director at Rockpoint, said in the statement. “Greater Boston has experienced consistent industrial rent growth, driven by strong demand for preeminent space and a range of factors limiting the production of new supply, including a limited number of suitable, well-located sites.” 

The firm’s most recent fund, Rockpoint Real Estate Fund VII, launched in 2021 and held a final close on $2.7 billion in 2023. The opportunistic vehicle targets multiple sectors in North America, including industrial assets. 

Rockpoint has $22.54 billion of private real estate assets undermanagement, according to PERE Deals data.