{"id":1004236239,"date":"2018-06-20T01:54:05","date_gmt":"2018-06-20T09:54:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004236239"},"modified":"2022-12-08T14:06:59","modified_gmt":"2022-12-08T22:06:59","slug":"cvmc-reit-sells-2-data-centers-for-85m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/","title":{"rendered":"CVMC REIT Sells 2 Data Centers for $85M"},"content":{"rendered":"<p>By Barbra Murray<\/p>\n<div id=\"attachment_1004236242\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004236242\" data-attachment-id=\"1004236242\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/alpharetta-data-center-ii-alpharetta-ga\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg\" data-orig-size=\"895,671\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Alpharetta Data Center II\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Alpharetta Data Center II&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg?w=895\" class=\"wp-image-1004236242 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg 895w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004236242\" class=\"wp-caption-text\">Alpharetta Data Center II<\/p><\/div>\n<p>Carter Validus Mission Critical REIT has pocketed $85 million on the disposition of two data centers. In transactions with separate buyers, the company sold the Milwaukee Data Center and Alpharetta Data Center II, totaling 224,500 square feet in the suburbs of Milwaukee and Atlanta, respectively.<\/p>\n<p>The REIT sold Milwaukee Data Center, a 59,500-square-foot property sited on eight acres in Hartland, Wis., to Landmark Infrastructure Operating Co. LLC for $21 million. The seller had owned the purpose-built, mission-critical data center since picking it up for $19.5 million in 2014.<\/p>\n<p>Alpharetta Data Center II in Alpharetta, Ga., fetched $64 million in its sale to Alpharetta DC LLC. Occupying 14.4 acres, the 165,000-square-foot facility encompasses 50,400 square feet of powered-shell enterprise data center space, 54,800 square feet of office and administration accommodations and 59,800 square feet of supporting infrastructure space. CVMC REIT had purchased the Alpharetta asset later in 2014 for $56.7 million.<\/p>\n<h2>Sticking to strategy<\/h2>\n<p>The Milwaukee and Alpharetta transactions follow a couple of major data center dispositions CVMC REIT completed in 2017, in line with its <a href=\"https:\/\/www.commercialsearch.com\/news\/critical-thoughts-with-carter-validus-michael-seton\/\">current investment strategy<\/a>, which involves leaving the major acquisition activity to CVMC REIT II. The pursuit of liquidity for the remainder of its data center assets is on CVMC REIT\u2019s list of goals for 2018, as noted in the company\u2019s 2017 annual report.<\/p>\n<p><em>\u201cOur board of directors is actively evaluating how to best deploy the proceeds from these transactions, after any required paydown of the company&#8217;s debt obligations, including, but not limited to, further reducing the leverage of the company and possibly paying a special distribution to our stockholders,\u201d<\/em> Michael Seton, president &amp; CEO of Carter Validus, said in a prepared statement on the two recent sales.&nbsp;<\/p>\n<p>With the completion of the Milwaukee and Alpharetta sales, the company has just one remaining data center in its portfolio\u2014for now. The Andover Data Center, located outside of Boston in Andover, Mass., is currently under contract.<\/p>\n<p>Toward the close of last year, CVMC REIT parted with the <a href=\"https:\/\/www.commercialsearch.com\/news\/carter-validus-sells-315m-data-center\/\">251,100-square-foot Chicago Data Center<\/a>, selling the asset to an affiliate of Digital Realty Trust for $315 million. The company also <a href=\"https:\/\/www.commercialsearch.com\/news\/carter-validus-sells-750m-data-center-portfolio\/\">sold a 14-property portfolio<\/a> to an affiliate of Mapletree Investments Pte. Ltd. and Mapletree Industrial Trust in a $750 million transaction.<\/p>\n<p><em>Carter Validus Mission Critical REIT<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two properties, featuring a total of 224,500 square feet in the Milwaukee and Atlanta areas, were picked up in transactions by separate buyers. <\/p>\n","protected":false},"author":969,"featured_media":1004236242,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21755,21743,21808,21783,13,21742],"tags":[32935,38694],"class_list":["post-1004236239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-data-centers","category-deals","category-featured","category-investment","category-midwest","category-latest","tag-carter-validus-mission-critical-reit-inc","tag-michael-seton"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CVMC REIT Sells 2 Data Centers for $85M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CVMC REIT Sells 2 Data Centers for $85M\" \/>\n<meta property=\"og:description\" content=\"The two properties, featuring a total of 224,500 square feet in the Milwaukee and Atlanta areas, were picked up in transactions by separate buyers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-20T09:54:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:06:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"895\" \/>\n\t<meta property=\"og:image:height\" content=\"671\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/\",\"name\":\"CVMC REIT Sells 2 Data Centers for $85M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg\",\"datePublished\":\"2018-06-20T09:54:05+00:00\",\"dateModified\":\"2022-12-08T22:06:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg\",\"width\":895,\"height\":671,\"caption\":\"Alpharetta Data Center II\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CVMC REIT Sells 2 Data Centers for $85M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"CVMC REIT Sells 2 Data Centers for $85M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/","og_locale":"en_US","og_type":"article","og_title":"CVMC REIT Sells 2 Data Centers for $85M","og_description":"The two properties, featuring a total of 224,500 square feet in the Milwaukee and Atlanta areas, were picked up in transactions by separate buyers.","og_url":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-06-20T09:54:05+00:00","article_modified_time":"2022-12-08T22:06:59+00:00","og_image":[{"width":895,"height":671,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg","type":"image\/jpeg"}],"author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/","url":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/","name":"CVMC REIT Sells 2 Data Centers for $85M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg","datePublished":"2018-06-20T09:54:05+00:00","dateModified":"2022-12-08T22:06:59+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg","width":895,"height":671,"caption":"Alpharetta Data Center II"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/cvmc-reit-sells-2-data-centers-for-85m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"CVMC REIT Sells 2 Data Centers for $85M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Alpharetta-Data-Center-II-Alpharetta-Ga..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004236239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004236239"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004236239\/revisions"}],"predecessor-version":[{"id":1004236542,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004236239\/revisions\/1004236542"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004236242"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004236239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004236239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004236239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}