Carter Validus Mission Critical REIT, Inc. To Sell Chicago Data Center
The company has reached a definitive agreement to sell the facility for approximately $315,000,000 and a definitive agreement to sell a 14-property data center portfolio for approximately $750,000,000.
Carter Validus Mission Critical REIT, Inc. announced on October 24th, 2017 that it has entered into a definitive purchase and sale agreement with an affiliate of Digital Realty Trust, LP (DLR) to sell a 251,141-sq-ft data center located on approximately nineteen acres of land in the Chicago metropolitan area (Chicago Data Center), for approximately $315,000,000. The net book value of the Chicago Data Center, including intangible assets recorded upon acquisition of the property, capitalized leasing costs and straight-line rent receivable was approximately $227,300,000 at September 30, 2017.
Separately, the company announced that it has entered into a definitive purchase and sale agreement with an affiliate of Mapletree Investments Pte Ltd, a Singapore headquartered real estate investment company and Mapletree Industrial Trust, a Singapore Exchange listed Real Estate Investment Trust, to sell a 14-property data center portfolio (Portfolio), for approximately $750,000,000. The net book value of the Portfolio, including intangible assets recorded upon acquisition of the properties and straight-line rent receivable, was approximately $598,400,000 at September 30, 2017.
The transactions are expected to close in the fourth quarter of 2017. The transactions are subject to the completion of certain closing conditions, and it is possible that the timing of the closings may be delayed or that the transactions do not close.