Birtcher Anderson & Davis and Belay Investment Group have successfully sold a portfolio of eight light industrial properties totaling 439,916 square feet in the Dallas-Fort Worth metro area. The buyer, Basis Industrial, financed the acquisition with a $138 million loan from Beach Point Capital Management. The properties were originally acquired by Birthcher and Belay in 2020 for $47.5 million from locally based Fort Capital.
According to Commercial Edge reports, Newmark was enlisted by the sellers to market these assets which include Manana Business Park at 2526 Manana Drive in Dallas; Garden Brook Industrial at 3109, 3113 and 3300 Garden Brook in Farmers Branch; Luke Business Park at1100-1220 Luke St.in Irving; Hickory Business Parkat1665 Hickory Drivein Haltom City;4101 Lindbergin Addison ;1115and1101 NE23rd St.inFort Worth ;and Suffolk IndustrialParkat2901 ,2905 ,2921,and2951SuffolkDriveinFortWorth .Atthetimeofthesale,theportfoliowas87.7percentleasedtoover85tenants.
The post Investor Duo Sells DFW Portfolio appeared first on Connect CRE.
A portfolio of eight light industrial properties totaling nearly half a million square feet has been successfully sold by investor duo Birtcher Anderson & Davis and Belay Investment Group in the Dallas-Fort Worth metro area.The buyer,BasisIndustrial,purchasedtheportfoliowitha$138millionloanfromBeachPointCapitalManagement.Thesellersoriginallyacquiredthepropertiesfor$47.5millionfromlocallybasedFortCapitalinthelatterpartof2020.NewmarkwasbroughtontoassistwithmarketingtheassetswhichincludeMananaBusinessPark,GardenBrookIndustrial,LukeBusinessPark,HickoryBusinessPark,andpropertiesonLindbergStreet,Northeast23rdStreet,andSuffolkDrive.Theportfolioiscurrently87.7percentleasedtoover85tenants.
The post DFW Portfolio Sold by Investor Duo appeared first on Connect CRE .
