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Basis Industrial Closes $27 Million Construction Loan for Rockville Centre Self-Storage Development

By October 30, 2025December 30th, 2025No Comments

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, Florida, has closed a $27 million construction loan for a ground-up self-storage development located at 117 N. Long Beach Road, Rockville Centre, NY 11570. The project, branded as Public Storage, will encompass approximately 121,500 square feet upon completion.

The loan was provided by NexBank as the senior lender and NexPoint as the mezzanine lender. This transaction marks the second closing between Basis Industrial and NexBank/NexPoint, longtime partners in the firm’s self-storage division.

Located in the heart of Rockville Centre, the project will deliver a modern, institutional-quality self-storage facility designed to meet the growing demand for secure, climate-controlled storage in the Long Island market. Construction is expected to begin immediately, with anticipated completion in early spring 2027.

The loan was provided by NexBank as the senior lender and NexPoint as the mezzanine lender. This transaction marks the second overall loan closing between Basis Industrial and NexBank/NexPoint, longtime partners in the company’s self-storage division.

This new development lending platform will encompass approximately four to five additional self-storage deals over the next 12 months.

The transaction was arranged by Anthony Scavo, president and managing partner of Basis Industrial. Taylor Colbert of NexPoint led the mezzanine financing on behalf of NexPoint, working alongside Scavo to complete the transaction. Mike Mendelow represented NexBank.

The Rockville Centre property was purchased in Q4 2022 for $5.5 million. After working closely with the municipality on final design approvals, the project is now ready to move forward.

“This closing represents another key step in our ongoing development pipeline and continued partnership with NexBank and NexPoint,” said Scavo. “We have several additional projects expected to close in the coming months as we expand our self-storage footprint nationwide.”

Basis Industrial’s self-storage division is expected to complete four to five additional closings in its development pipeline over the next six to eight months.

Editors’ note: To access high-resolution images of the portfolio, visit https://www.dropbox.com/scl/fo/nqdulqj93o0jw12dm2kh8/AGHjrrk_f8bos6r4jVR4ZWI?rlkey=9a36v797khn2h1fbbgk4z1hrz&dl=0

About Basis Industrial

Basis Industrial is a vertically integrated real estate owner and operator formed by industry veterans and sponsors Jay Massirman, Stephen Garchik and Daniel Weinstein. Anthony Scavo runs the day-to-day activities of the company, serving as president and managing partner. Together they have over 100 years of combined Real Estate Development and Management experience. Basis currently owns more than 5 million square feet of self-storage and industrial real estate, with an additional 2 million to 3 million square feet expected by the end of the year. Active markets for Basis include Florida, Pennsylvania, New Jersey, New York, Texas, Boston, Los Angeles, Alabama and select urban markets nationwide. In total, the sponsors have developed and managed over 15 million square feet of real estate assets including self-storage, industrial, retail, office and residential. BaySpace is the property management arm of Basis. In 2023, Basis Industrial was ranked the No. 1 fastest-growing company by South Florida Business Journal. In 2024, Basis was the winner of Commercial Observer’s Breakthrough Awards in the Industrial Transaction of the Year category. For more information, visit www.basisindustrial.com or www.bayspace.com.

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