Sunday, October 22, 2017

Carter Validus buys largest data centre in Connecticut leased to CyrusOne subsidiary

Company carries out acquisition of five properties including a data centre and healthcare assets for  $141.5m.

Non-traded real estate investment trust Carter Validus Mission Critical REIT II has invested $141.5m in the acquisition of healthcare and data centre properties.

In the data centre arena, the investor acquired what it claims to be  Connecticut’s largest data centre for $58.9m.

The Norwalk Data Center is a powered-shell colocation data centre property located in Norwalk.

The facility totals 167,691 rentable sqf comprised of 75,000 sqf of data centre space, 30,000 sqf of office space, and approximately 62,000 sqf of supporting infrastructure.

Carter Validus said the facility is 100% leased to Cervalis, LLC, a subsidiary of CyrusOne.

Elsewhere, the organisation acquired a healthcare facility in Aurora, Illinois, for $11.5m, and three fully-occupied inpatient rehabilitation facilities for approximately $71.1m.

John E. Carter, Chief Executive Officer of CV Mission Critical REIT II, said: “We believe these acquisitions represent our commitment to invest in high-quality real estate in the growing data centre and healthcare industries.

“We further believe the critical nature of these buildings to the tenants that occupy them, along with their favorable locations and property conditions make them attractive acquisitions for CV Mission Critical REIT II.”

Michael A. Seton, President of CV Mission Critical REIT II, said: “We are thrilled to add these fully-occupied, net leased properties to our expanding portfolio.

“We believe acquisitions like these align well with our high-growth, net lease, mission critical investment strategy, and anticipate that they will translate into added value for our stockholders.”