Boca Raton, Florida, December 4, 2023 /PRNewswire/ — Basis Industrial is a privately held, vertically integrated real estate owner and operator based in the United States. Boca Raton, Floridaclosed/purchased 4 commercial properties florida and texasIn addition, we refinanced two current commercial properties. florida upon November 30, 2023.Total complex transactions $220 million.
Bank United, Banesco, Thorofare are roughly offered $105 million with loan income. Beach Point Capital Management provided a preferred stock/mezzanine loan of approximately $500. $70 million, sponsors Basis and NexPoint will provide the remaining funding. The transaction includes all six of his properties under his One Shallow Bay/Multi-Tenant Industrial portfolio totaling 1,328,443 square feet.
The total of the 4 properties acquired is approx. $160 million Transactions include:
Winter Garden Business Park1218-1232 Winter Garden Vineland Road; Winter Garden, Florida 34787
The representative director and president of Basis Industries Co., Ltd. Anthony Scavothis 91,727 square foot property has closed. $24.95 million. Ron Rogg CBRE agents represented the seller, Westminster Capital.Located 10 minutes from of florida Located on the Turnpike, this property provides convenient access to SR 429, SR 417, and SR 408. Located in the heart of the rapidly developing northwest region. orange county Submarket. Current tenants include DaVita, Orlando Health, BoxTribe Weightlifting, APTIM Government Solutions and Budget Insurance Offices. Master plan for future interior renovations, roof maintenance, exterior upgrades, CCTV and signage. High resolution images available here.
North Lake Business Park370-774 Northlake Blvd. Altamonte Springs, Florida 32701
Scabo represents Basis, $49,592,500 We purchased this 271,988 square foot property. Robbie McEwan and Cody Brias JLL represented the seller; Jeff McFadden, Principal of Taurus Investment Holdings. The facility is currently at 84% occupancy and is home to 37 different companies, including BioPlus, Miller Electric Company, Research America, THR Property Management, Soleo Health, My Favorite Therapists Orlando, Geopoint Surveying, and Owen Electric Company. It is home to a wide portfolio of tenants. Master planning for future interior refurbishment and improvements, supply and installation of roll-up doors, roof maintenance, exterior upgrades, CCTV, access control and lighting. High resolution images available here.
I-30 (Rudel, Blue Smoke, Tiller), 2301-2759 Rudell Street, Fort Worth, Texas,76105
Basis, represented by Scavo, closed on the 421,721-square-foot property in March 2018. $57,175,000. stephen bailey and zach liebe Newmark represented the seller, Tillar/LanCarte. Current tenants include ARCO Contractors Supply, Micro Mold, St. Matthew’s Church, OFCO, Penn-Tex Plastics, King Street Productions, Innovative Environmental Technologies, and Liyu Optoelectronic. Master planning for interior refurbishment, roof maintenance, exterior upgrades and improvements, CCTV, access control and lighting, signage, markings and striping. High resolution images available here.
blue smoke 22301-2367 Blue Smoke Court, 2424 Blue Smoke Court South, 2400
Rudelville, Fort Worth, Texas 76105
Scavo represented Basis in the purchase of this 161,418 square foot property located next to Interstate 30. $24,025,000. Bailey and Riebe of Newmark represented the seller, PHP. Current tenants include ARCO Contractors Supply; schafer mold, MSG Distributors, Lone Star Bingo, BELFOR, and Pan American Wire. Master planning for interior renovations and improvements, roof maintenance, exterior upgrades, CCTV, access control and lighting, signage, markings and striping. High resolution images available here.
Basis refinanced 96,888 sq. ft. crystal point Property located at 4500-4870 North Powerline Rd. Deerfield Beach, Florida 33073, 100% leased. 253,701 square feet Gateways and commerce points The property located at 7550-7800 Southland Blvd. Orlando, Florida 32809, 97.6% leased.
“this $220 million Our portfolio transactions, which combine acquisitions, refinances, multi-lenders and mezzanine financing, demonstrate our ability to successfully diversify across asset classes and locations. The transaction took several months and involved multiple sellers and lenders. “It was very difficult, but we were able to get through it and close the deal,” Scavo said, adding, “Thank you for working with us on the extension that gave us time to finalize this difficult deal. We are grateful to the seller for this.” Shallow Bay’s industrial assets have performed very well for us, and we are pleased to close on these assets to complete this portfolio, which offers unique advantages in its strategic location. I am very happy to have been able to do so. ”
“This is a big step in the growth of Basis and my vision,” he added. Daniel Weinstein, Founder and CEO of Basis Industrial. “We plan to add millions of square feet in targeted Sunbelt markets over the next few years, and I would like to thank my team for their work on this huge and complex transaction.”
About Basis Industries
Basis Industrial is proud to partner with industry veterans and sponsors Jay Massirman, Stephen Garchik, and Daniel Weinstein. Basis brought on Anthony Scavo as his COO/President and put him in charge of the day-to-day operations of the company. Together they have over 100 years of real estate development and management experience. Deeply rooted in self-storage and industrial fields. Basis currently owns more than 3 million square feet of self-storage and industrial properties and plans to close or complete an additional 2 million square feet in 2024. Basis’ active markets include: south florida, pennsylvania, new jersey, new york, texas, boston, Los Angeles Carefully selected city markets across the country. Collectively, the sponsors have developed and managed more than 15 million square feet of real estate assets, including self-storage, industrial, retail, office, and residential properties. BaySpace is the real estate management division of Basis. For more information, please visit www.basisindustrial.com or www.bayspace.com.
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SOURCE Basis Industrial