Carter Validus Mission Critical REIT, Inc. has announced that it sold an approximately 250,000 sq ft data center located on approximately nineteen acres of land in the Chicago metropolitan area (the “Chicago Data Center”), for $315,000,000 to an affiliate of Digital Realty Trust, LP. The aggregate net book value of the Chicago Data Center as held on the CVMC balance sheet was approximately $227,329,000 as of September 30, 2017. Carter Validus Mission Critical REIT, Inc. paid approximately $105,079,000 in property level debt in conjunction with the sale of the Chicago Data Center.
“We are pleased with the price achieved in connection with selling the Chicago Data Center, which, we believe, represents a significant gain from our initial off-market purchase made in 2014,” stated Michael A. Seton, president, Carter Validus Mission Critical REIT, Inc. “By investing additional capital, actively managing the asset and capitalizing on the growing data center market, we were able to deliver significant shareholder value with the sale of this asset,” Seton added.
“The sale of the Chicago Data Center represents a strong initial step as we consider all avenues of liquidity for our shareholders and seek to maximize value for their investment in the company,” stated John E. Carter, chief executive officer, Carter Validus Mission Critical REIT, Inc.
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