Sealy & Company, a fully-integrated commercial real estate investment and operating company and recognized leader in the industrial real estate market, announces the acquisition of a 19-building, 1.6 million square foot light industrial portfolio in Dallas, TX. The transaction was made for an undisclosed amount.The acquisition, which is the largest acquisition in company history and rounds out Sealy’s investment activity for the year, comes just a week after the company’s $908 million dollar milestone disposition, which represented 16.3 million square feet of industrial property.
The portfolio is a fitting addition to Sealy’s expanding property list, as the heavily sought-after last mile infill location within Dallas offers significant barriers to entry and consistently high demand. Comprised of 19 buildings, the portfolio is 97% leased to a diversified, multi-industry, and tenured tenant base. These tenants benefit from the portfolio’s central location in the ever-expanding Dallas/Fort Worth metroplex, as the properties are located on average only 1.4 miles from major transportation roads.
Sealy intends to strategically hold the newly acquired portfolio, during which time it should provide reliable cash flow and increasing yields due to market rental rate growth.
“With the recent portfolio disposition executed by Sealy Strategic Equity Partners, LP, we are entering a new phase of our investment life cycle and
are aggressively pursuing acquisition opportunities at this time of strategic capital deployment. Our aim is to continue buying institutional quality
assets, and the Dallas Infill Industrial portfolio is a strong addition to Sealy Industrial Partners, LP. We’re completing the year with two large
transactions that are setting the pace for 2020 and beyond,” says Scott Sealy, Jr., Sealy & Company's Chief Investment Officer.
The deal was brokered by Randy Baird of CBRE and Sealy’s Investment Services team, led by Scott Sealy, Jr., Jason Gandy, and Tom Herter.
For more news and information regarding Sealy & Company, please visit the company’s website at www.Sealynet.com.