Boca Raton, Fla.-based real estate operator Basis Industrial recently announced that it had closed on four industrial properties located in Florida and Texas. Around the same, the company announced the refinancing of two of its existing properties located in Florida. In all, the transactions total approximately $220 million dollars.

Bank United, Banesco and Thorofare provided $105 million for the loan proceeds, while Beach Point Capital Management provided an additional $70 million. Sponsors Basis and NexPoint provided the remaining equity. The properties were financed as part of a six-building industrial portfolio.

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The four acquired properties include Winter Garden Business Park in Winter Garden, Fla.; North Lake Business Park in Altamonte Springs, Fla.; Blue Smoke 2 in Fort Worth, Texas; and an industrial property located at 2301-2759 Ludelle St. that’s also in Fort Worth.

Winter Garden Business Park is a 91,000-square-foot property located within easy reach of Florida’s Turnpike with plans for future renovations, roof maintenance and exterior upgrades. A few miles northeast, North Lake Business Park spans 271,000 square feet and cost Basis just under $50 million. The property is currently 84% occupied with a varied tenant portfolio including BioPlus, Miller Electric Company and Soleo Health.

Meanwhile, the two Texas properties total 161,000 and 421,000 square feet, respectively. Blue Smoke 2 was purchased for $24 million, while the Ludelle St. industrial space came with a price tag of $57.1 million.

In addition to the four newly acquired properties, Basis also refinanced its 96,000-square-foot Crystal Pointe property located in Deerfield Beach, Fla., as well as the 253,000-square-foot Gateway and Commerce Point in Orlando, Fla. The first property is currently fully leased, while Gateway and Commerce Point have a 97.6% occupancy rate.

“This $220 million portfolio transaction combining acquisitions, refinancing, multiple lenders, and mezzanine financing represents our ability to achieve success in diversifying our asset classes and locations,” said Anthony Scavo, president of Basis Industrial. “This transaction, which took months, involved multiple sellers and lenders. It was extremely difficult, but we worked through it and got it closed. We appreciate the sellers for working with us on extensions that gave us time to piece this difficult transaction together. Shallow Bay industrial assets have done very well for us, and we are extremely pleased to close on these properties to complete this portfolio, which offers unique benefits in strategic locations.”

“This is a huge step for Basis’ growth and my vision,” added Daniel Weinstein, founder and CEO of the company. “We expect to add millions of square feet over the next few years in targeted Sun Belt markets, and I want to thank my team for all their work on this enormous and complicated transaction.”