Lincoln Rackhouse And Principal Real Estate Investors Acquire Bytegrid’s Three-Market Portfolio
The acquisition will expand Lincoln Rackhouse’s portfolio by 320,000 sq ft and 16MW of IT power.
Lincoln Rackhouse, the data center division of Lincoln Property Company, has announced that it has closed on its acquisition of Bytegrid. Bytegrid is a leading compliant IT Infrastructure company providing colocation, managed services, and hosting solutions.
The acquisition, in partnership with Principal Real Estate Investors, includes all Bytegrid assets: three data centers in the Washington, D.C., Chicago, and Seattle markets and the entirety of the company’s existing colocation, managed services, network and hosting business. This deal expands the Lincoln Rackhouse portfolio by 320,000 sq ft and adds an additional 16MW of IT power load to achieve a total portfolio that spans 2.5 million square feet and well over 100MW across 16 locations in 14 strategic markets. Lincoln Rackhouse primarily serves as a real estate owner and property manager specializing in data centers. The acquisition of Bytegrid represents Lincoln Rackhouse’s first step into the data center and colocation operations sphere. The deal closed on May 7, 2019.