National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Sealy Strategic Equity Partners Receives $908M with 16M-SF Industrial Portfolio Sale
Sealy Strategic Equity Partners LLC (SSEP) closed on its $908.5 million portfolio sale to DRA Advisors LLC. The seller, an investment fund sponsored by Sealy & Co. of Dallas, TX, sold 16.3 million square feet of its 18.1-million-square-foot industrial property portfolio. SSEP will sell the remainder in the first half of 2020.
The transaction consisted of 106 industrial warehouse buildings, situated in 16 markets across the southeast, southwest and Midwest. SSEP acquired the properties between November 2012 and December 2018. “Since the 1970s, we have invested in select industrial properties in search of quality risk-adjusted returns,” said Sealy & Co.’s Michael Sealy. “We believe those opportunities exist today, and may continue for some time into the future.”
CBRE was lead real estate advisor to SSEP. Goldman Sachs & Co. LLC was lead financial advisor, KeyBanc was financial advisor and Morris, Manning & Martin LLP served as legal counsel to SSEP.
Pictured: Creekside IX, Columbus, OH
For comments, questions or concerns, please contact Amy Sorter
- ◦Sale/Acquisition
