Sealy and AEW Sell 1.5M SF in Texas
A JV of Sealy & Co and AEW Capital Management sold a mega portfolio of Texas industrial properties—19 institutional assets totaling 1.5M SF. The deal includes two Houston facilities totaling 357k SF: 1150-1170 Silber and 8790 Wallisville. Both properties are fully occupied; the overall portfolio is 91% leased. Sealy VP Scott Sealy Jr says the sale was at an opportune time, allowing the JV to capitalize on current market conditions and realize significant appreciation over a relatively short amount of time. The JV is looking for acquisition opportunities between $5M and $100M.