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1000 112th Circle North

Basis Industrial Acquires Industrial Assets From Taurus Investment Holdings For $27.2M In St. Petersburg
SOLDIndustrial

Basis Industrial Acquires Industrial Assets From Taurus Investment Holdings For $27.2M In St. Petersburg

1000 112th Circle North

$27,200,000

$131/SF

Building Size

206,275 SF

Asset Type

Industrial

Closing

Aug 29, 2024

AI

The property asset involved in the transaction is an industrial real estate located at 10901-11001 Roosevelt Boulevard & 1000 112th Circle North, St. Petersburg, FL. The transaction was executed for a total amount of $27,200,000, encompassing 206,275 square feet, resulting in a price per square foot of $131.

Summary of transaction details:

Basis Industrial, based in Boca Raton, Florida, is a privately held and vertically integrated real estate owner and operator. This transaction represents their third closing with Beach Point Capital Management, which served as the lender for the transaction that also included multiple commercial assets in Texas and Florida, totaling 1,107,509 square feet.

Players

Anthony Scavo

Basis Industrial

Broker

$1.3B

vol

44 deals

Broker

Saint Petersburg Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.58%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93