Basis Industrial Acquires $220M Industrial Portfolio In Fort Worth, TX

2301-2367 Blue Smoke Court, 2424 Blue Smoke Court South, and 2400 Ludelle Building, located in Fort Worth, TX, have been sold in a recent transaction. The industrial properties were acquired by Anthony Scavo and Dan Weinstein, representing Basis Industrial. The seller, PHP, was assisted by the brokers Stephen Bailey and Zach Riebe from Newmark. The transaction, which took place on November 30, 2023, involved a portfolio of six commercial properties across Florida and Texas, with a total value of $220 million.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $220 million
• Buyer: Anthony Scavo and Dan Weinstein - Basis Industrial
• Seller: PHP
• Brokers: Stephen Bailey and Zach Riebe - Newmark
• Market: Fort Worth, TX

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, expanded its portfolio with the acquisition of these properties. In addition to the purchases, the company also refinanced two existing commercial properties in Florida during the same transaction. The detailed financial terms and specific characteristics of the properties were not disclosed.