Basis Industrial Acquires $220M Industrial Portfolio In Florida & Texas

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, recently completed a notable transaction in the industrial sector. On November 30, 2023, they acquired a portfolio consisting of four commercial properties in Florida and Texas. The properties are located at 1218-1232 Winter Garden Vineland Road, 370-774 Northlake Boulevard, 4500-4870 North Powerline Rd & 7550-7800 Southland Blvd, and 2301-2759 Ludelle Street, 2301-2367 Blue Smoke Court,2424 Blue Smoke Court South & 2400 Ludelle Building. This significant purchase, inclusive of all six properties, was valued at an impressive $220 million.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $220,000,000
• Square Footage: 1,328,443 SF
• Price per Square Foot: $166
• Market: Florida & Texas

The buyers in this transaction were Anthony Scavo, Daniel Weinstein, and Taylor Colbert. Anthony Scavo and Daniel Weinstein represent Basis Industrial, while Taylor Colbert is associated with NexPoint. On the other side, the sellers involved in this deal were Westminster Capital, Taurus Holdings, and Tillar/LanCarte, PHP. Multiple brokerage firms played a role in the transaction, with Cody Brais and Robbie McEwan representing JLL, Ronald J. Rogg representing CBRE, and Eden Abraham, Stephen Bailey, and Zach Riebe representing Newmark. The senior debt for the transaction was provided by Bank United, Banesco, and Thorofare.

It is important to note that Basis Industrial also refinanced two of their existing commercial properties in Florida as part of this transaction. In total, their recent acquisition and refinancing efforts demonstrate their commitment to expanding their real estate portfolio and strengthening their presence in the industrial sector.