DRA Advisors LLC paid almost $23.48 million for four office and flexible warehouse buildings sold by Sealy & Co. at 6500 Bowden Road, according to the deed posted Dec. 27 with the Duval County Clerk of Courts.
DRA Advisors bought the 24.2-acre property as well as more than a half-acre of wasteland, the deed shows.
While the deed was recorded Dec. 26, the image was not posted until the next day. The deed shows it was executed Dec. 12.
DRA Advisors, based in New York City, bought the property through G&I X Industrial FL LLC.
Sealy Bowden Buildings L.L.C. sold the buildings, which totaled 208,640 square feet of space. Records show the one-story structures, from 45,440 to 58,400 square feet, were built in 2000.
The property is at southeast Bowden and Salisbury roads.
Sealy & Co. is based in Shreveport, Louisiana. It paid $17.65 million for the property in 2005. The assessed value is $13.16 million.
Sealy did not respond to questions whether the 6500 Bowden Road property was part of a deal announced Dec. 17 by Sealy Strategic Equity Partners LP.
Sealy Strategic Equity Partners said it completed a $908.5 million transaction with DRA Advisors for 106 industrial buildings totaling 16.3 million square feet of space.
Sealy & Co. sponsors the investment fund.
Sealy Strategic Equity Partners said the disposition represented most of the fund’s portfolio of 18.1 million square feet of industrial property. It said it would sell the rest of the assets in the first half of 2020.
DRA Advisors describes itself as an investment adviser specializing in real estate investment and management services for institutional and private investors.