Longpoint Purchases Two Retail Centers for $45.7 Million

Houston and Pompano Beach, Fla. — Longpoint Partners has purchased two shopping centers for a total of $45.7 million. The properties — Plaza Mexico in Houston and Palm Aire Marketplace in Pompano Beach, Florida — comprise 103,907 and 143,219 square feet, respectively. El Rancho anchors Plaza Mexico, which was 96 percent occupied at the time of sale, and El Presidente Supermarket anchors Palm Aire Marketplace, which was 90 percent leased at the time of sale. Both properties will be managed under Longpoint’s new Lena Centers brand.