NexPoint DST Completes $60 Million of Industrial Acquisitions

NexPoint, an alternative investment firm, announced the acquisition of four multi-tenant small bay properties in Central Florida.

Nexpoint says the acquisition consists of 13 buildings totaling 419,946 square feet of multi-tenant warehousing and industrial space. According to the company, these types of facilities are typically smaller in size and are commonly referred to as “small bay properties.”

The properties were indirectly acquired by NexPoint Small Bay I DST, a Delaware statutory trust seeking to raise $59.5 million in equity from accredited investors via a private placement offering.

The properties, which are located in Orlando and Tampa, Florida, are comprised of: Presidents Plaza, a 44,269 square-foot, two-building, multi-tenant complex in Tampa, Florida; Brandywine Business Center, a 79,124 square-foot, two-building, multi-tenant complex in Tampa, Florida; Corporex Plaza, a 100,265 square-foot, three-building, multi-tenant complex in Tampa, Florida; and Orlando International Business Center, a 196,288 square-foot, six-building, multi-tenant complex in Orlando, Florida.

“We continue to witness increasing demand for prime industrial properties located in growing markets where companies and small businesses are looking for flexible space to better serve local customers,” said Taylor Colbert, director of Real Estate for NexPoint Real Estate Advisors. “We believe there are significant tailwinds to support further growth, and we are committed to scaling our footprint in this notable sector.”

NexPoint currently owns 1.6 million net rentable square feet of industrial real estate across Texas and Florida and is partnering with a privately held and vertically integrated real estate owner and operator, Basis Industrial, to manage the newly acquired properties.

“We are thrilled with our expanding partnership with NexPoint and are looking forward to implementing our hands-on management approach to optimize the performance of this prime industrial portfolio,” said Dan Weinstein, chief executive officer of Basis Industrial. “These assets have strong fundamentals, and we are excited to add them to our growing portfolio of owned and managed assets.”

NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles.

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