DELRAY BEACH, FLA. — A joint venture between Delray Beach-based Basis Industrial and global investment management firm One Investment Management (OneIM) has purchased an industrial portfolio in the Orlando and Atlanta markets. The firms acquired the 839,001-square-foot portfolio from Boston-based Albany Road Real Estate Partners for $144.6 million as part of a multibillion-dollar programmatic joint venture between Basis Industrial and OneIM.
The acquired portfolio spans multiple building within three properties: Lake Point Business Park (134,389 square feet) and Challenger South (146,538 square feet) in Orlando and Breck Exchange in Duluth, Ga. (558,074 square feet).
Aaron Appel, Jonathan Schwartz and Michael Brown of Walker & Dunlop assisted in sourcing acquisition debt. Mo Beler, Jonathan Paine, Cory Elbaum and Jackson Irwin of Walker & Dunlop advised on the joint venture equity raise.