Carter Validus Mission Critical REIT has sold 15 data center properties for $1.06 billion in two transactions, the company said today. The company agreed to sell a data center in suburban Chicago to Digital Realty, while selling a 14-property portfolio to Singapore-based real estate firm Mapletree.
In the first transaction, Digital Realty will buy a data center in Northlake, Illinois for $315 million. The data center was built by Ascent Corp., which operates it as a multi-tenant wholesale data center and colocation facility. Carter Validus bought the property in 2014 for $211.7 million, while Ascent continues to operate and manage the facility. The facility, known as CH2, is several miles from a Digital Realty campus on Grand Avenue in Franklin Park.
Carter Validus also announced that it has agreed to sell a 14-property portfolio to an affiliate of Mapletree Investments and Mapletree Industrial Trust (MIT), a Singapore Exchange listed Real Estate Investment Trust, for approximately $750 million. The 14 data centers are 97 percent occupied by 15 tenants, with a total area of 2.3 million square feet The transactions are expected to close in the fourth quarter of 2017.
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