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Investor Duo Spins Off 8-Property DFW Portfolio
Birtcher Anderson & Davis and Belay Investment Group have sold a 439,916-square-foot, eight-property light industrial portfolio in the Dallas-Fort Worth metro. The buyer was Basis Industrial, which financed the purchase with a $138 million loan from Beach Point Capital Management. Birthcher and Belay had acquired the properties in 2020 for $47.5 million. The seller at the time was the locally based Fort Capital.
Commercial Edge reports the sellers tapped Newmark to take the assets to market. The portfolio includes:
- Manana Business Park at 2526 Manana Drive in Dallas
- Garden Brook Industrial at 3109, 3113 and 3300 Garden Brook in Farmers Branch
- 4101 Lindberg in Addison
- Luke Business Park at 1100-1220 Luke St. in Irving
- Hickory Business Park at 1665 Hickory Drive in Haltom City
- 1115 and 1101 NE 23rd St. in Fort Worth
- Suffolk Industrial Park at 2901, 2905, 2921 and 2951 Suffolk Drive in Fort Worth.
The assets were 87.7 percent leased at the time of sale to more than 85 tenants.
- ◦Sale/Acquisition
- ◦Financing
