Carter Validus Mission Critical REIT II, Inc. Acquires First Data Center Property in $7.5 Million Sale-Leaseback
The Indianapolis data center was purchased and leased back to Online Tech, Inc.
Carter Validus Mission Critical REIT II, Inc. (“CVMC REIT II”), purchased its first data center property, the Indianapolis Data Center (the “IDC”), on April 1, 2015. The $7.5 million data center was purchased from and leased back to Online Tech, Inc., which provides secure and compliant enterprise cloud and colocation hosting services and operates five data centers in the Midwest.
The IDC is located in Indianapolis. It is a 43,724 sq-ft hosting facility supporting 3 megawatts of electrical load and is resiliently powered by two independent utility feeds. The data center accesses a high concentration of fiber optics and is in an ideal location for secure cloud computing providers given the area’s diverse economic base, cool climate, and low risk of natural disasters.
According to Online Tech, the IDC houses Online Tech’s high-speed data analytics cloud that leverages EMC’s XtremIO technology, making the data center one of only a few in the country with an all-flash-cloud that meets key regulatory requirements. “Our partnership with Carter Validus allows us to continue investing capital back into our client-facing cloud infrastructure,” said Mike Klein, co-CEO of Online Tech. “This new next generation analytics cloud, as well as advanced security tools, are but two of the many investments we are continuing to make in the Indianapolis market.”
“We are excited to collaborate with Online Tech and announce our first data center acquisition for CVMC REIT II,” said Michael Seton, president of CVMC REIT II. “The IDC’s ideal location, strong tenant, reliability, and state-of-the art technology make this asset a great addition to our portfolio.”
John Carter, chief executive officer of CVMC REIT II added, “We believe that acquisitions of high-quality data center real estate properties, like the IDC, align well with our mission critical strategy and add significant value to CVMC REIT II and to our investors.”