{"id":1004200986,"date":"2017-12-18T04:43:42","date_gmt":"2017-12-18T12:43:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200986"},"modified":"2022-12-08T21:20:57","modified_gmt":"2022-12-09T05:20:57","slug":"carter-validus-sells-315m-data-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/carter-validus-sells-315m-data-center\/","title":{"rendered":"Carter Validus Sells Data Center for $315M"},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor <\/em><\/p>\n<p>In a $315 million deal, an affiliate of Digital Realty Trust LP (DLR) has purchased an approximately 250,000-square-foot data center in the Chicago suburb of Northlake, Ill., from Carter Validus Mission Critical REIT Inc.<\/p>\n<p>The data center was originally developed by Ascent LLC, and the 19-acre site provides room for expansion, a DLR spokesperson told <em>Commercial Property Executive<\/em>.<\/p>\n<p>Designated CH2 by its developer, the center features an onsite 2N electrical substation, 2N UPSs and PDUs, and substantial security measures, according to information from Ascent.<\/p>\n<p>Carter Validus declined to provide requested additional information.<\/p>\n<p>The center\u2019s aggregate net book value, as held on the Carter Validus balance sheet, was approximately $227.3 million as of the end of the third quarter. The seller reportedly repaid about $105 million in property-level debt in conjunction with the sale.<\/p>\n<p>\u201c<em>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,<\/em>\u201d Carter Validus President Michael Seton said in a prepared statement. \u201c<em>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.<\/em>\u201d<\/p>\n<p>Moelis &amp; Co. LLC was the lead financial advisor to Carter Validus, along with KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey Inc. acting as co-advisors, and Morris, Manning &amp; Martin LLP serving as legal counsel.<\/p>\n<h2>Living up to the \u201cMission Critical\u201d name<\/h2>\n<p>Last May, in keeping with its mission, the Chicago data center seller\u2019s sibling, Carter Validus Mission Critical REIT II Inc., bought the largest <a href=\"https:\/\/www.commercialsearch.com\/news\/carter-validus-grabs-largest-data-center-in-connecticut\/\">data center in Connecticut<\/a>, as well as four health-care properties, for a total of $141 million.\u00a0 The health-care properties comprised a facility in Aurora, Colo., and three rehabilitation hospitals in Texas.<\/p>\n<p><em>Images courtesy of Ascent LLC<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An affiliate of Digital Realty Trust LP is the new owner of a 250,000-square-foot data center situated in the Chicago suburb of Northlake, Ill.<\/p>\n","protected":false},"author":882,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21755,21743,21808,21783,13,21742],"tags":[38631,32935,36123,32937,37612],"class_list":["post-1004200986","post","type-post","status-publish","format-standard","hentry","category-chicago","category-data-centers","category-deals","category-featured","category-investment","category-midwest","category-latest","tag-ascent","tag-carter-validus-mission-critical-reit-inc","tag-digital-realty-trust-inc","tag-keybank","tag-morris-manning-martin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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