Ascent has announced a partnership with Carter Validus Mission Critical REIT, Inc. (CVMC REIT) whereby CVMC REIT acquired the Ascent CH2 Data Center Facility in Northlake, IL (a suburb of Chicago) for $211.7 million and will provide new capital for the continued build out and expansion of the facility. Ascent will continue to work directly with current and future tenants through its operation of the CH2 Facility and will manage all data center development, design, construction, engineering and operational services.
This partnership provides both parties an opportunity to focus on their core competencies, where CVMC REIT will deliver financial resources to the project while Ascent will continue to deliver custom, built-to-suit data center suites as well as wholesale colocation space. Current CH2 tenants will continue to benefit from Ascent’s 24/7-onsite operational support, remote management and Smart Hands services.
“Partnering with CVMC REIT allows Ascent to concentrate on building out our current portfolio of data center facilities and increase strategic investment in the development of future locations,” said Phil Horstmann, CEO of Ascent. “CVMC REIT’s commitment to the data center space is the perfect complement to our design, construction and operational capabilities, strengthening our ability to provide current and future customers with the innovative solutions and mission-critical services they demand.”
CH2 is a 250,000-sq-ft multi-tenant facility featuring Ascent’s purpose-built Dynamic Data Center SuiteSM model and shared infrastructure colocation suites. Accommodating users with critical power requirements from less than 1 MW up to 20 MW of gross power, the facility is designed for a broad range of customers with diverse computing and power density requirements.
“Given this property’s desirable location and long term leases with high-quality tenants, we believe that CH2 is a great addition to our growing portfolio of mission critical real estate assets. We look forward to our relationship with Ascent, a recognized leader in the data center industry, who will continue to manage and develop the property for CVMC REIT,” stated Michael Seton, president of Carter/Validus Advisors, the advisor to CVMC REIT.
“CH2 represents our largest single portfolio acquisition to date and demonstrates our continuing commitment to the data center space,” said John Carter, CEO of CVMC REIT.