{"id":2484,"date":"2023-12-29T14:50:42","date_gmt":"2023-12-29T14:50:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/blog\/?p=2484"},"modified":"2023-12-21T14:53:13","modified_gmt":"2023-12-21T14:53:13","slug":"basis-real-estate-purchase-refinance-220m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/","title":{"rendered":"Basis Industrial Closes Industrial Real Estate Purchases & Refinances Totaling $220M"},"content":{"rendered":"

Boca Raton, Fla.-based real estate operator Basis Industrial recently announced that it had closed on four industrial properties located in Florida and Texas. Around the same, the company announced the refinancing of two of its existing properties located in Florida. In all, the transactions total approximately $220 million dollars.<\/p>\n

Bank United, Banesco and Thorofare provided $105 million for the loan proceeds, while Beach Point Capital Management provided an additional $70 million. Sponsors Basis and NexPoint provided the remaining equity. The properties were financed as part of a six-building industrial portfolio.<\/p>\n

If you’re looking for industrial real estate for your business, browse our selection of industrial properties in competitive markets across the nation or search using several parameters such as location, price range and amenities:<\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t
Industrial space in Dallas<\/a><\/td>Industrial space in Columbus<\/a><\/td>Industrial space in Nashville<\/a><\/td>\n<\/tr>\n
Industrial space in Phoenix<\/a><\/td>Industrial space in Indianapolis<\/a><\/td>Industrial space in Baltimore<\/a><\/td>\n<\/tr>\n
Industrial space in Chicago<\/a><\/td>Industrial space in Denver<\/a><\/td>Industrial space in Boston<\/a><\/td>\n<\/tr>\n
Industrial space in Houston<\/a><\/td>Industrial space in Seattle<\/a><\/td>Industrial space in Los Angeles<\/a><\/td>\n<\/tr>\n
Industrial space in Philadelphia<\/a><\/td>Industrial space in Atlanta<\/a><\/td>Industrial space in Cleveland<\/a><\/td>\n<\/tr>\n
Industrial space in Charlotte<\/a><\/td>Industrial space in Cincinnati<\/a><\/td>Industrial space in Portland<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

The four acquired properties include Winter Garden Business Park in Winter Garden, Fla.; North Lake Business Park in Altamonte Springs, Fla.; Blue Smoke 2 in Fort Worth, Texas; and an industrial property located at 2301-2759 Ludelle St. that\u2019s also in Fort Worth.<\/p>\n

Winter Garden Business Park is a 91,000-square-foot property located within easy reach of Florida\u2019s Turnpike with plans for future renovations, roof maintenance and exterior upgrades. A few miles northeast, North Lake Business Park spans 271,000 square feet and cost Basis just under $50 million. The property is currently 84% occupied with a varied tenant portfolio including BioPlus, Miller Electric Company and Soleo Health.<\/p>\n

Meanwhile, the two Texas properties total 161,000 and 421,000 square feet, respectively. Blue Smoke 2 was purchased for $24 million, while the Ludelle St. industrial space came with a price tag of $57.1 million.<\/p>\n

In addition to the four newly acquired properties, Basis also refinanced its 96,000-square-foot Crystal Pointe property located in Deerfield Beach, Fla., as well as the 253,000-square-foot Gateway and Commerce Point in Orlando, Fla. The first property is currently fully leased, while Gateway and Commerce Point have a 97.6% occupancy rate.<\/p>\n

\"Outside
Basis Capital’s Crystal Pointe commercial property in Deerfield Beach, Fla. Image credits: CommercialEdge.<\/i><\/figcaption><\/figure>\n

\u201cThis $220 million portfolio transaction combining acquisitions, refinancing, multiple lenders, and mezzanine financing represents our ability to achieve success in diversifying our asset classes and locations,\u201d said Anthony Scavo, president of Basis Industrial. \u201cThis transaction, which took months, involved multiple sellers and lenders. It was extremely difficult, but we worked through it and got it closed. We appreciate the sellers for working with us on extensions that gave us time to piece this difficult transaction together. Shallow Bay industrial assets have done very well for us, and we are extremely pleased to close on these properties to complete this portfolio, which offers unique benefits in strategic locations.\u201d<\/p>\n

\u201cThis is a huge step for Basis\u2019 growth and my vision,\u201d added Daniel Weinstein, founder and CEO of the company. \u201cWe expect to add millions of square feet over the next few years in targeted Sun Belt markets, and I want to thank my team for all their work on this enormous and complicated transaction.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Boca Raton, Fla.-based Basis Industrial announced several industrial real estate market moves, including four purchases and the refinancing of two industrial properties it already owns in the Fort Worth area.<\/p>\n","protected":false},"author":71,"featured_media":2485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,2],"tags":[],"class_list":["post-2484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-industrial-real-estate-news"],"acf":[],"yoast_head":"\nBasis Purchases & Refis Industrial Real Estate Totaling $220M<\/title>\n<meta name=\"description\" content=\"The real estate owner and operator closed a complex industrial real estate deal encompassing four purchases and two refinance moves.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Basis Purchases & Refis Industrial Real Estate Totaling $220M\" \/>\n<meta property=\"og:description\" content=\"The real estate owner and operator closed a complex industrial real estate deal encompassing four purchases and two refinance moves.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialSearch\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-29T14:50:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1300\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucian Alixandrescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lucian Alixandrescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/\",\"name\":\"Basis Purchases & Refis Industrial Real Estate Totaling $220M\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg\",\"datePublished\":\"2023-12-29T14:50:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/8dcdbe23ce3338721621dd397997da66\"},\"description\":\"The real estate owner and operator closed a complex industrial real estate deal encompassing four purchases and two refinance moves.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg\",\"width\":1300,\"height\":800},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Basis Industrial Closes Industrial Real Estate Purchases & Refinances Totaling $220M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/\",\"name\":\"CommercialSearch\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/8dcdbe23ce3338721621dd397997da66\",\"name\":\"Lucian Alixandrescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/47c96bd47696553c39e751aac1c63888f0d56c29e17a3b2e394409592d5630eb?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/47c96bd47696553c39e751aac1c63888f0d56c29e17a3b2e394409592d5630eb?s=96&d=mm&r=g\",\"caption\":\"Lucian Alixandrescu\"},\"description\":\"Lucian is a senior content writer for CommercialCafe, specializing in commercial real estate research and data-driven reporting since 2019. With deep expertise in industrial real estate, office markets, demographics, and economics, he produces comprehensive market studies and insights on national and regional CRE trends. He also reports on adjacent subjects such as population shifts and the job market. His reports have been cited by and featured in The New York Times, Forbes, NBC, Bisnow, The Business Journals, and Yahoo Finance. Lucian holds a background in language and literature studies and brings more than 5 years of previous freelance writing experience to his commercial real estate journalism.\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/author\/lucian-alixandrescu\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Basis Purchases & Refis Industrial Real Estate Totaling $220M","description":"The real estate owner and operator closed a complex industrial real estate deal encompassing four purchases and two refinance moves.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/","og_locale":"en_US","og_type":"article","og_title":"Basis Purchases & Refis Industrial Real Estate Totaling $220M","og_description":"The real estate owner and operator closed a complex industrial real estate deal encompassing four purchases and two refinance moves.","og_url":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/","og_site_name":"CommercialSearch","article_published_time":"2023-12-29T14:50:42+00:00","og_image":[{"width":1300,"height":800,"url":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg","type":"image\/jpeg"}],"author":"Lucian Alixandrescu","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Lucian Alixandrescu","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/","url":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/","name":"Basis Purchases & Refis Industrial Real Estate Totaling $220M","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg","datePublished":"2023-12-29T14:50:42+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/8dcdbe23ce3338721621dd397997da66"},"description":"The real estate owner and operator closed a complex industrial real estate deal encompassing four purchases and two refinance moves.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg","width":1300,"height":800},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/blog\/basis-real-estate-purchase-refinance-220m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Basis Industrial Closes Industrial Real Estate Purchases & Refinances Totaling $220M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/blog\/#website","url":"https:\/\/www.commercialsearch.com\/blog\/","name":"CommercialSearch","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/8dcdbe23ce3338721621dd397997da66","name":"Lucian Alixandrescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/47c96bd47696553c39e751aac1c63888f0d56c29e17a3b2e394409592d5630eb?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/47c96bd47696553c39e751aac1c63888f0d56c29e17a3b2e394409592d5630eb?s=96&d=mm&r=g","caption":"Lucian Alixandrescu"},"description":"Lucian is a senior content writer for CommercialCafe, specializing in commercial real estate research and data-driven reporting since 2019. With deep expertise in industrial real estate, office markets, demographics, and economics, he produces comprehensive market studies and insights on national and regional CRE trends. He also reports on adjacent subjects such as population shifts and the job market. His reports have been cited by and featured in The New York Times, Forbes, NBC, Bisnow, The Business Journals, and Yahoo Finance. Lucian holds a background in language and literature studies and brings more than 5 years of previous freelance writing experience to his commercial real estate journalism.","url":"https:\/\/www.commercialsearch.com\/blog\/author\/lucian-alixandrescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2023\/12\/Skyline-and-commercial-spaces-in-Fort-Worth-Texas.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/posts\/2484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/users\/71"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/comments?post=2484"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/posts\/2484\/revisions"}],"predecessor-version":[{"id":2519,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/posts\/2484\/revisions\/2519"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/media\/2485"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/media?parent=2484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/categories?post=2484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/blog\/wp-json\/wp\/v2\/tags?post=2484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}