NorthPoint Closes $1.5B Industrial Fund

March 27, 2026

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The new investment vehicle is the firm’s largest to date.

7901 Indlea Point, a 210,600-square-foot building in the Northpoint at 73 Business Center in Greensboro, N.C., was purchased through the NorthPoint Industrial Fund VII, which just closed with more than $1.5 billion in equity commitments. *Image courtesy of NorthPoint Development*

NorthPoint Development has closed its largest fund—NorthPoint Industrial Fund VII—with more than $1.5 billion in equity available, including nearly $1.3 billion in direct commitments and more than $300 million in co-investment capital. The fund, including leverage, is expected to capitalize about $4 billion in U.S. industrial investments.

The fund significantly exceeded its initial target of $1 billion. Investors in Fund VII include endowments, foundations, public pensions, insurance companies, asset managers, family offices and high net-worth investors. The Texas Municipal Retirement System was among the public pension funds investing in Fund VII. TMRS committed $100 million to the NorthPoint fund in September 2025, according to Institutional Real Estate Inc.

Fund VII focuses on acquiring highly functional industrial properties at a discount to their replacement cost with a significant opportunity to reset below-market in-place rents. To date, the fund is 40 percent deployed into a 17.3 million-square-foot portfolio.

Mark Pomerenke, NorthPoint CIO, said in a prepared statement Fund VII represents a generational buying opportunity in industrial real estate that few firms will have the ability to capitalize. He added U.S. industrial fundamentals remain strong with continued user demand, limited new supply and increasing barriers to entry and cost.

Three fund purchases in focus

NorthPoint told Commercial Property Executive the following properties were among the industrial purchases made through Fund VII—Northwest Corporate Park, Elgin, Ill.; Sierra View Industrial Park in Roseville, Calif.; and NorthPoint 73 Business Park in Greensboro, N.C.

The largest of those acquisitions was Northwest Corporate Park, an 11-property, 2.6 million-square-foot portfolio, purchased from High Street Logistics for a total of $270 million in June, according to public records. The Class A warehouses are located at the southwest corner of North Randall Road and Route 72, about 43 miles northwest of downtown Chicago. Interstate 90 is about 2 miles from the industrial park. Chicago O’Hare International Airport is within 30 miles.

A month later, the NorthPoint fund acquired Sierra View Business Park, a 712,733-square-foot industrial campus in the Sacramento, Calif., suburb, from Link Logistics for $96.3 million, according to Yardi Matrix data. All four buildings, located at 8860-8880 Industrial Ave. and 8855-8875 Washington Blvd. were fully leased at the time of the purchase. The business park is close to Highway 65 and Interstate 80. Downtown Sacramento is 24 miles from the site and Sacramento International Airport is 32 miles southwest of Sierra View.

The fund acquired NorthPoint at 73 Business Center, a 210,600-square-foot building, in November for approximately $19 million from biotech startup ProKidney, according to the Triad Business Journal. The Class A property, completed in 2022, is located at 7901 Indlea Point in the Greensboro airport submarket. The building, which has 32-foot clear heights, efficient dock loading and ample parking, is partially occupied by Wausau Supply Co. as a distribution center. The property has direct access to major highways and is minutes from the Piedmont-Triad International Airport.

More NorthPoint acquisitions

Founded in 2012, NorthPoint is headquartered in Kansas City, Mo., with regional offices in St. Louis, Cincinnati, Chicago, Detroit, Philadelphia, Salt Lake City, Sacramento, Southern California and Charlotte, N.C. The real estate investment firm, which also invests in the data center and multifamily sectors, operates an industrial portfolio totaling more than 150 million square feet.

In June, NorthPoint purchased the Las Vegas Logistics Center, a Class A, three-building industrial portfolio spanning approximately 1 million square feet in North Las Vegas, Nev., from Link Logistics. In one of the market’s largest infill industrial deals last year, the Blackstone company sold the portfolio for $175 million, according to public records.

The properties are located at 3837 and 3717 Bay Lake Trail, as well as 3200 E. Gowan Road. Fully leased at closing, the tenant roster includes Amazon, which operates a returns-focused distribution center. The campus is about 5 miles northeast of downtown Las Vegas. Interstate 15 is 2 miles away and North Las Vegas Airport is located within 7 miles.

During the same month, NorthPoint bought Baker Hollow Logistics Center, a 165,625-square-foot industrial facility in Windsor, Conn., for $24.3 million from a joint venture of Condyne Capital Partners and an account managed by UBS Realty Investors. Auto glass company Safelite is the sole tenant. Completed in 2022, the building features 32-foot clear heights, one drive-in door and 38 loading docks. Located at 105 Baker Hollow Road, the logistics center is close to interstates 91 and 84, providing access to the Bridgeport-New Haven metro area. Hartford, Conn., is within 9 miles and the Bradley International Airport is nearby.

NorthPoint Development