Basis Industrial Expands Portfolio With Acquisition of Four Commercial Properties in Florida and Texas

Basis Industrial closed on/purchased four commercial properties in Florida and Texas, as well as refinanced two of its current commercial properties in Florida on Nov. 30, 2023. The complex transaction totaled $220 million. Bank United, Banesco and Thorofare provided roughly $110 million in loan proceeds. Beach Point Capital Management provided a preferred equity/mezzanine loan of roughly $70 million, with the sponsors, Basis and NexPoint, funding the remaining. The transaction encompasses all six properties—including Winter Garden Business Park in Winter Garden (shown)—under one shallow bay/multi-tenant industrial portfolio totaling 1,328,443 square feet.