Rockpoint Buys Eight-Building Industrial Portfolio for $142m

PERE Deals

By McKenna Leavens

The firm has completed 16 industrial acquisitions since 2020.

Rockpoint has acquired an eight-building industrial portfolio in Richmond, Virginia, for $142 million, according to a source familiar with the deal.

Rockpoint has deployed equity from Rockpoint Real Estate Fund VII in similar transactions. The manager launched the opportunistic vehicle in 2021 and held a final close on $2.7 billion in 2023, according to affiliate PERE data.

The eight-building shallow-bay buildings total nearly 1.1 million square feet. The portfolio is 97 percent occupied and is next to Richmond International Airport.

Rockhill Management, Rockpoint’s property service affiliate, will manage the assets.

Since 2020, the Boston-based firm has completed 16 industrial acquisitions, adding 15 million square feet of industrial space to its portfolio. The Boston-based manager invested in its hometown earlier this year, purchasing an industrial facility in Uxbridge, Massachusetts, for $120 million.

This year, PERE Deals has seen several managers invest in Virginia industrial. Last week, LaSalle Investment Management purchased a warehouse in South Chesterfield for $70.5 million. In March, Prologis picked up an industrial property in Northern Virginia from Elion Partners for $76.5 million.

Rockpoint has $22.5 billion of private real estate assets under management, according to PERE Deals data. The firm places 15th in the 2025 PERE 100 ranking of private real estate’s top managers.