**Basis Industrial Acquires Hialeah Warehouse Portfolio for Nearly $85 Million**
Basis Industrial has completed the acquisition of a small bay industrial portfolio in Hialeah, Florida, for $84.75 million. The portfolio includes 42 buildings, totaling approximately 396,135 square feet of industrial space.
The acquisition aligns with Basis Industrial’s strategic focus on expanding its presence in key South Florida markets, including Hialeah. Currently, the portfolio is 85% leased, slightly below the region’s typical occupancy rate, which generally exceeds 95%.
Anthony Scavo of Basis Industrial represented the company in the transaction. The seller, TA Realty, was represented by Jose Lobón of CBRE. Financing for the acquisition was led by BankUnited, with Seacoast Bank joining as a syndicated co-lender. Institutional partner NexPoint Advisors contributed over $20 million in preferred equity to support the purchase.
Basis Industrial plans to launch a comprehensive capital improvement and branding initiative across the portfolio, with implementation set to begin immediately.
