Infomart Dallas Under Contract for $800M

ASB Real Estate Investments entered into a definitive agreement to sell Infomart Dallas, a 1.6-million-square-foot data center and office complex to Equinix Inc. The sales price is $800 million, consisting of cash and debt securities, which will be paid to ASB over a 36-month period following closing, which is scheduled for Q2 2018.

ASB acquired Infomart Dallas at 1950 N. Stemmons Fwy., near downtown Dallas, in early 2005. During its more-than-a-decade hold, ASB expanded the property’s capacity to 110 carriers, with major tenants that include Equinix, Bank of America and Verizon.

“ASB has benefited from significant value creation over the term of our investment, and we saw the opportunity to realize gains for our investors, while rebalancing our diversified real estate portfolio in line with allocation targets,” said ASB’s Robert Bellinger.

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