Basis Industrial Launches Co-GP IV Investment Vehicle to Acquire $72 Million Multi-Tenant Industrial Portfolio

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, is excited to announce the creation of its Co-GP IV investment vehicle, designed to acquire a $72 million multi-tenant industrial (MTI) portfolio in Tampa, Florida. This acquisition represents a significant milestone in Basis Industrial’s strategy to aggregate and manage high-performing industrial assets in key growth markets. With this addition, Basis expands its MTI portfolio, exclusively managed by its property management arm, BaySpace, to 4.2 million square feet.  

The Tampa portfolio, totaling 472,512 rentable square feet (RSF) across 18 buildings and five properties, is currently under contract. Basis views this as an excellent opportunity to further execute its strategy of driving performance through mark-to-market rent adjustments and targeted leasing initiatives in a key market. The Co-GP IV vehicle, the firm’s fourth co-GP investment fund, will allow Basis to maximize the value of these assets and continue delivering superior risk-adjusted returns to its partners.  

“Through Co-GP IV, we are reinforcing our commitment to identifying and managing high-value industrial real estate in Sunbelt markets,” said Anthony Scavo, president and managing partner at Basis Industrial. “This portfolio exemplifies our strategy of leveraging market fundamentals to achieve long-term value creation, and we are confident that it will deliver strong results for our partners.” 

Portfolio Acquisition Highlights Include: 

• Properties acquired at approximately 50% below replacement cost. 

• Projected improvements in net operating income (NOI) through proactive management and leasing strategies. 

• Location in the Tampa MSA, one of Florida’s most densely populated metropolitan areas, benefiting from restrictive zoning and consistent tenant demand. 

• Operational expertise provided by BaySpace, Basis’s in-house property management division, ensuring tenant satisfaction and operational efficiency. 

For more information about Basis Industrial visit basisindustrial.com.

Disclaimer: This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. Any investment opportunities discussed herein are offered only to qualified investors through a private placement memorandum and pursuant to applicable securities laws. ML Staff. Image courtesy of Basis Industrial.