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Mapletree Picks Up 14-Property Data Center Portfolio for $750M
Tampa-based Carter Validus Mission Critical REIT, Inc. sold a 14-property data center portfolio for $750 million to an affiliate of Mapletree Investments Pte Ltd, a Singapore-headquartered real estate company and Mapletree Industrial Trust, a Singapore Exchange listed REIT.
The aggregate net book value of the portfolio was roughly $598 million as of September 30, 2017. The company repaid approximately $170 million in property and company level principal debt in conjunction with the sale of the portfolio.
Carter Validus’s Michal Seton notes they had strategically assembled the portfolio “over a period of years through on-and-off market acquisitions, and it represents a notable gain for the company.”
The purpose-built facilities total 2.3 million square feet, and are spread across nine states, including California, Georgia, Michigan, New Jersey, North Carolina, Pennsylvania, Tennessee, Texas and Wisconsin.
Properties include:
– 7337 Trade Street, San Diego
– 180 Peachtree, Atlanta, GA (pictured)
– 2775 Northwoods Parkway, Atlanta
– 1001 Windward Concourse, Alpharetta, GA
– 19675 W Ten Mile Road, Southfield, MI
– 1805 Center Park Drive, Charlotte, NC
– 5150 McCrimmon Parkway, Morrisville, NC
– 2 Christie Heights, Leonia, NJ
– 2000 Kubach Road, Philadelphia, PA
– 402 Franklin Road, Brentwood, TN
– 1221 Coit Road, Plano, TX
– 3300 Essex Drive, Richardson, TX
– 5000 Bowen, Arlington, TX
– N15W24250 Riverwood Drive, Pewaukee, WI
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
