Sealy & Company, a commercial real estate investment and operating company, has purchased 34 distribution warehouses in three separate transactions for approximately $108 million. The off-market transactions were completed in one week and total 1.8 million square feet, with properties located in Kansas City, Missouri; Oklahoma City and Memphis.
According to the SEC’s Edgar website, Sealy sponsors a number of Regulation D private placement offerings.
“In a time when many have been forced to the sidelines, we are pleased to continue to capture compelling deals in enduring distribution hubs,” said Michael Sealy, executive vice president of capital markets for Sealy and Company.
The Kansas City transaction includes five buildings in Executive Park, one of the largest master-planned industrial parks in the Midwest. Sealy also closed on a 20-building portfolio of distribution warehouses in Memphis’ Southeast submarket consisting of single-tenant buildings averaging 50,500 square feet. The last acquisition was for five fully occupied Class A distribution warehouse facilities located in Oklahoma City’s airport submarket.
“We have been consistently and carefully sourcing deals for many years and have been fortunate to familiarize ourselves with some of our top target markets,” said Jason Gandy, managing director of investment services. “Sealy continues to seek out and opportunistically purchase properties that align with our investment strategy and expand our market presence.”
Sealy & Company focuses on acquiring, developing and redeveloping regional distribution warehouse, industrial/flex, and other commercial properties and provides development, management and brokerage services to high-net-worth individuals and institutional investors. The company has more than 100 employees with corporate offices in Dallas and Shreveport, Louisiana.