DALLAS, July 18,
2024 /PRNewswire/ -- NexPoint, a multibillion-dollar
alternative investment firm, today announced the launch of NexPoint
Small Bay II DST, a Delaware
statutory trust ("DST") offering comprised of two strategically
located and configured Small Bay industrial properties in the
Orlando-Kissimmee-Sanford metropolitan statistical area
("MSA").
The offering, sized at just under $39
million, adds an additional 378,929 square feet of
multi-tenant warehousing and industrial space to NexPoint's
portfolio.
The two properties in the DST offering include:
- The Lakefront Property, which offers 192,767 square-feet of
flex and multi-tenant industrial space; and
- The Belle Property, a 186,162 square-foot property comprised of
13 recently renovated Small Bay industrial buildings.
With this offering, NexPoint continues to expand its footprint
in both Central Florida and the
light industrial sector often referred to as "Small Bay." The
Orlando-Kissimmee-Sanford MSA is
expected to benefit from a growing population base and higher
income, education and employment levels. NexPoint's addition of two
Small Bay industrial properties will meet the increasing demand for
flexible industrial, office and warehouse space in the growing
region.
"We believe that Small Bay industrial properties are one of the
most attractive sectors in the commercial real estate space," said
Taylor Colbert, Director of Real
Estate at NexPoint Real Estate Advisors. "With demand for Small Bay
properties growing, driven by increasing populations and low
supply, we believe we can leverage our experience to address this
need to the benefit of the community and our investors."
The launch follows NexPoint Small Bay I DST, a now
closed offering that raised $59.5
million. For both offerings, NexPoint partnered with Basis
Industrial, a privately held and vertically integrated real estate
owner and operator, to streamline this continued real estate
growth.
"We are proud to partner with NexPoint, fostering the continued
growth and performance of these significant assets," said
Dan Weinstein, CEO of Basis
Industrial. "Our in-house property manager, BaySpace, is committed
to improving and enhancing tenant experience at the DST
properties."
About NexPoint
NexPoint is a multi-billion dollar investment firm based in
Dallas, Texas. The firm is
structured around three major business areas: real estate,
corporate credit and equities, and insurance solutions. NexPoint's
businesses span asset classes, industries, and strategies,
providing the flexibility to invest across capital structures and
market environments. Serving a diverse client base, NexPoint's
investment strategies are offered in a range of vehicles and fund
structures, including mutual funds, public and private REITs,
tax-advantaged vehicles, private funds, and separate accounts. For
more information, visit nexpoint.com.
About Basis Industrial
Basis Industrial is a vertically integrated real estate owner
and operator formed by industry veterans and sponsors Jay Massirman, Stephen
Garchik and Daniel Weinstein.
Basis currently owns over 2.5 million square feet of self-storage
and industrial real estate and is scheduled to close on another one
million square feet in 2023. Active markets for Basis include
South Florida, Pennsylvania, New
Jersey, New York,
Texas, Boston, Los
Angeles and select urban markets nationwide. BaySpace is the
property management arm of Basis. For more information, visit
www.basisindustrial.com or www.bayspace.com.
Media Relations
Prosek Partners for NexPoint
Pro-nexpoint@prosek.com
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SOURCE NexPoint