The deal was part of a four-commercial-property acquisition in Florida and Texas, as well as the refinance of two of its current commercial properties in Florida. The complex transaction, which totaled $220 million, closed on November 30.
On July 15, Basis Industrial broke ground on the 126,741-square-foot, state-of-the-art self-storage facility featuring 955 climate-controlled units, advanced security systems, and other amenities.
NexPoint currently owns 1.6 million net rentable square feet of industrial real estate across Texas and Florida and is partnering with Basis Industrial to manage the newly acquired properties.
TerraCap purchased the asset in October 2020 for $24,000,000.
The acquisitions total 254,000 square feet.
In only nine months since its initial launch, Basis has amassed a vast portfolio of existing multi-tenant industrial and self-storage space and development sites – with a focus on Florida and the Sun Belt.
Basis will be expanding the park with an additional 7,500 square feet of warehouse space, which will bring the total square footage to 193,000 square feet. The park currently has over 125 tenants and over 150 bays.
The company will self-manage the property and two additional industrial properties it is acquiring this fall in Central Florida and on the Space Coast.
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