Basis Industrial recently acquired two commercial portfolios in Texas, totaling 900,000 square feet. The transactions were financed by Beach Point Capital Management and facilitated by Newmark.
The first portfolio, DFW II, consists of eight properties located in the Dallas-Fort Worth area. Basis Industrial’s managing partner Anthony Scavo represented the company in closing on this 439,916-square-foot portfolio. Stephen Bailey of Newmark acted as the seller’s representative for Birtcher Anderson & Davis. Current tenants at these properties include California Fruit Exchange, 1 Dust Group, Midpoint Auto Group and Liturgical Publications. Basis plans to renovate these properties with updates to their exteriors and roofs as well as HVAC replacements and improvements to drainage and landscaping.
The second portfolio is known as DFW III and includes four properties in Dallas and two in Houston for a total of 461
