Offering Includes Two Small Bay Industrial Assets in Florida and Texas
NexPoint, a multibillion-dollar alternative investment firm, today announced the launch of NexPoint Small Bay III DST (the “Offering”), a Delaware statutory trust (“DST”) offering of two small bay industrial properties strategically located in Deerfield Beach, Florida and Richardson, Texas (collectively, the “Properties”).
The Offering, sized at $50,382,493, adds approximately 510,000 square feet of multi-tenant warehousing and industrial space to NexPoint’s DST portfolio, which now comprises over 1.3 million square feet of multi-tenant industrial real estate across three DST offerings and represents one of the largest portfolios of this flexible real estate that is investable by 1031 exchange. The minimum investment in the Offering is $100,000.
“With rising demand for flexible, small-scale industrial properties, we believe this is an ideal time to grow our small bay portfolio and are excited to offer investors access to these unique assets,” said Taylor Colbert, Director of Real Estate for NexPoint.
The Offering is comprised of:
- A property in Deerfield Beach, Florida, consisting of 102,245 rentable square feet (the “Deerfield Property”); and
- The Arapaho Business Park, a 19-building property in Richardson, Texas, consisting of 407,669 rentable square feet (the “Arapaho Property”).
The Deerfield Property is located 15 miles from downtown Ft. Lauderdale in the Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area. With steady population growth and rising income and education levels, the area’s economy continues to strengthen. The Arapaho Property sits on over 31 acres in the Dallas-Fort Worth metropolitan statistical area , which ranks as the 4th largest metropolitan statistical area and leads Texas in population growth, median household income, and job creation.1 The growth and economic strength in both markets continues to be a tailwind for industrial real estate, with demand for small bay properties, in particular, projected to remain strong.
The launch follows NexPoint Small Bay II DST, a $39 million offering that is fully subscribed. For all three small bay DST offerings, NexPoint has partnered with Basis Industrial (“Basis”), a privately held, vertically integrated real estate owner and operator to help achieve continued growth of the DST assets.
“We are proud to partner with NexPoint again on another meaningful Small Bay transaction,” said Dan Weinstein, CEO of Basis Industrial. “Basis is committed to providing the best tenant experience for these DST properties and our in-house property manager, Bay Space, is designed to do just that.”
