NexPoint Launches Second Small Bay DST Offering with Two Orlando-Area Flexible Industrial Properties

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Jul 18, 2024, 08:30 ET

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.