press-release
Sealy & Company Well-Positioned With Addition of Former Executive VP of Operations of First Industrial Realty Trust, Inc.
January 15, 2010
DALLAS – January 15, 2010 – Sealy & Company, a fully integrated real estate investment and operating firm, announces that Dave Draft, former executive vice president of operations of First Industrial Realty Trust, Inc. (NYSE: FR), joined the company as chief operating officer on December 1, 2009.
Draft served with First Industrial for over 12 years, holding a number of senior executive positions, culminating with over six years as executive vice president of operations, responsible for both domestic and international operations.
“Draft is widely recognized in the commercial and industrial real estate sectors as an exceptionally capable and reputable real estate executive,” says Scott Sealy, Sr., chairman of the board of Sealy & Company. The addition of Draft will position the Company to capitalize on the opportunities in the commercial and industrial sectors, many of which are being driven by economic challenges facing both sellers and lenders.
According to Sealy, Draft brings a lot to the table: strong decision-making, a good sense of critical path, substantial experience in people management and extensive relationships in the real estate industry. Draft will add a significant level of operational and organizational expertise to the Company.
“When I made the decision to return to the private sector after many years on the public side at First Industrial, my first call was to Sealy & Company,” says Draft. “I worked previously with several members of the Sealy Team and developed great respect for the Company’s integrity, intellect and reputation. In addition, I identified Sealy & Company’s size, market presence, investor base, industry-network and investment analysis tools as ideally positioning the Company to benefit from the opportunities ahead.”
Draft is based in the company’s Dallas office. “Draft’s main areas of focus will be to maximize investment returns, mitigate portfolio risk and execute business strategies across Sealy & Company’s current portfolio of over 14 million square feet,” says Mark Sealy, president of Sealy & Company. “He will oversee asset management, leasing and the development of annual business plans for the properties and the organization, adding significant value in both strategy and implementation.” Regional Directors, who oversee the Company’s local offices, as well as portfolio and investment activities in their respective markets, will report to Dave.
The addition of Draft signals an important step in the Company’s commitment to increase the pace of investment growth, as well as to strengthen the Company overall. A key strategy going forward will be developing strategic partnerships with private investors, institutional funds and other investment resources.
Sealy & Company has over 100 employees in eight offices throughout Texas, Louisiana, Georgia and Tennessee, and maintains its headquarters in Dallas and Shreveport, LA.
Sealy & Company is a recognized leader in acquiring, developing, redeveloping and managing regional distribution warehouse, flex, industrial and other property types located primarily in the southeastern, south-central and southwestern United States.
Because of its concentrated presence in dynamic markets, capital platform and proven entrepreneurial team, Sealy & Company is well suited to expand and enhance its portfolio of opportunistic and value-added properties through investments, portfolio advisement and asset management services.
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