Seventy percent of funds will be allocated to industrial properties in Florida, the Carolinas, Tennessee and Georgia, and the remainder will be divided equally between Florida office and medical office buildings.
Adam H. Klein and Elon Gerberg facilitated the transaction for both seller and buyer.
The off-market transaction was facilitated by Cody Brais and Luis Castillo of JLL.
The joint venture intends to redevelop the 11.3-acre Signature Grand site into The Park at Davie.
Trustone Advisors successfully negotiated the sale in an off-market transaction.
The fully occupied property features a 25,000-square-foot building on a 2.1-acre lot.
The transaction included two completed warehouse buildings and 2 proposed industrial buildings.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.
This move comes as the company has quickly expanded its presence nationally and needed a larger office space to accommodate its continued growth. Basis currently has 35 employees, up from just three in December 2020.
NAI Miami’s David Oxios, CCIM, Gabriel Garcia-Menocal, SIOR, and Lucia Custer, Executive Vice President represented the seller in the transaction.
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