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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

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For comments, questions or concerns, please contact Dennis Kaiser


Inside The Story

Read more at Business WireConnect With Carter Validus’s Michal SetonConnect With Mapletree

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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