NexPoint Launches $39M Small Bay II DST Offering
Alternative investment manager NexPoint announced the launch of NexPoint Small Bay II DST, a Delaware statutory trust offering comprised of Small Bay industrial properties in the Orlando-Kissimmee-Sanford metropolitan statistical area.
The offering is sized at just under $39 million and adds an additional 378,929 square feet of multi-tenant warehousing and industrial space to NexPoint’s portfolio. The two properties 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.
“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 Orlando-Kissimmee-Sanford MSA is expected to benefit from a growing population base and higher income, education and employment levels, according to the firm. The addition of two Small Bay industrial properties will meet the increasing demand for flexible industrial, office and warehouse space in the growing region.
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. Last month, the firm launched NexPoint Storage V DST, a $46 million Delaware Statutory Trust offering that includes two Class-A storage facilities in Cape Coral, FL and Dundalk, MD managed by Extra Space Storage.
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.
