Photo by ShutterstockDALLAS—Sealy & Co., has acquired a 19-building, 1.6 million square foot light industrial portfolio in here for an undisclosed amount. The acquisition, which is the largest 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.
Comprised of 19 buildings, the portfolio is 97% leased to a diversified tenant base that benefits from its central location in the ever-expanding Dallas/Fort Worth metroplex, with the properties located on average only 1.4 miles from major transportation roads.
Sealy intends to strategically hold the newly acquired portfolio collecting a reliable cash flow and benefiting from increasing yields due to market rental rate growth.
This deal marks a new phase of Sealy’s investment life cycle with the company aggressively pursuing acquisition opportunities, says Scott Sealy, Jr., Sealy & Co.’s chief investment officer in prepared remarks.
“Our aim is to continue buying institutional quality assets,” he says.
For the past 30 years, Sealy reports that it has generated an annual average return on equity for completed transactions of 23.9% and has a 20% average annual growth rate.
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.
"industrial" - Google News
December 20, 2019 at 07:36PM
https://ift.tt/2SclCvH
Sealy & Co Acquires 1.6M-SF Infill Industrial Portfolio - GlobeSt.com
"industrial" - Google News
https://ift.tt/2DUpjxK
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment