{"id":1004352713,"date":"2019-09-17T02:28:22","date_gmt":"2019-09-17T10:28:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004352713"},"modified":"2019-09-17T02:28:22","modified_gmt":"2019-09-17T10:28:22","slug":"singaporean-investors-ink-1-4b-deal-with-digital-realty","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/","title":{"rendered":"Singaporean Investors Ink $1.4B Deal With Digital Realty"},"content":{"rendered":"
\"\"<\/a>

Tempe data center. Image courtesy Digital Realty<\/em><\/p><\/div>\n

Digital Realty and affiliates have entered into an agreement with Mapletree Investments Pte. Ltd. and Mapletree Industrial Trust, of Singapore, to sell a portfolio of 10 data centers and to establish a joint venture for a further three hyper-scale data centers. Total consideration for both transactions will amount to nearly $1.4 billion.<\/p>\n

In the more populous transaction, the Mapletree entities will acquire the 10-property Powered Base Building portfolio from Digital Realty for a total of about $557 million, representing a 6.6 percent cap rate. All of the assets are fully leased. Digital Realty will provide property management services for the portfolio for one year from closing.<\/p>\n

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READ ALSO:<\/strong> Global Data Center Market Braces for Change<\/a><\/p>\n

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The portfolio totals 1.4 million net rentable square feet and consists of the following properties\u2014two in Colorado (Aurora and Centennial); one in Lithia Springs, Ga.; three in Virginia (two in Sterling and one in Ashburn); one in Waltham, Mass.; one in Tempe, Ariz.; one in Dallas and one in Mississauga, Ontario.<\/p>\n

Separately, an entity jointly owned by Mapletree Investments and Mapletree Industrial Trust will purchase an 80 percent interest and Digital Realty will retain a 20 percent interest in three fully leased hyper-scale facilities in Ashburn, Va. Mapletree will acquire its stake for about $811 million, thus valuing these three assets at about $1 billion. Digital Realty will continue to manage the facilities, which total 704,000 net rentable square feet.<\/p>\n

The transactions are expected to close late this year or in early 2020, subject to customary closing conditions. Citigroup is the lead financial advisor to Digital Realty, with CBRE and Park Hill as co-advisors. Latham & Watkins and Mayer Brown are Digital Realty\u2019s legal advisors.<\/p>\n

At home and abroad <\/h2>\n

In a prepared statement, Digital Realty CEO A. William Stein said the transactions are important in self-funding the company\u2019s growth and diversifying its sources of equity capital, while shrinking its asset base, with the proceeds to be redeployed.<\/p>\n

Even as Digital Realty has been selling in this country, it has been expanding internationally. In June, the company opened its second data center<\/a> in metro Osaka, Japan. KIX11 is a four-story, carrier-neutral facility of 247,000 square feet and up to 28 megawatts of capacity. Given the asset\u2019s location, it\u2019s unsurprising that it was built with seismic isolation systems.<\/p>\n

A recent CBRE report on the North American data center sector<\/a> was bullish, citing substantial amounts of absorption\u2014171 megawatts worth\u2014in the primary U.S. markets in just the first half of this year. In addition, deliveries in the first half totaled nearly 200 megawatts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mapletree Investments has agreed to buy a data center portfolio from Digital Realty and is also partnering with the company to co-own three hyper-scale data centers. <\/p>\n","protected":false},"author":882,"featured_media":1004352725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21743,21808,21783,23891,21742],"tags":[32789,42920,36123,34056,47015],"class_list":["post-1004352713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-deals","category-featured","category-investment","category-national","category-latest","tag-cbre","tag-citigroup","tag-digital-realty-trust-inc","tag-mapletree-group","tag-mayer-brown"],"acf":[],"yoast_head":"\nSingaporean Investors Ink $1.4B Deal With Digital Realty - 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\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Singaporean Investors Ink $1.4B Deal With Digital Realty\" \/>\n<meta property=\"og:description\" content=\"Mapletree Investments has agreed to buy a data center portfolio from Digital Realty and is also partnering with the company to co-own three hyper-scale data centers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/\" \/>\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=\"2019-09-17T10:28:22+00:00\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Tempe-data-center.jpg\" \/>\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\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/\",\"name\":\"Singaporean Investors Ink $1.4B Deal With Digital Realty - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Tempe-data-center.jpg\",\"datePublished\":\"2019-09-17T10:28:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/singaporean-investors-ink-1-4b-deal-with-digital-realty\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Tempe-data-center.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/Tempe-data-center.jpg\",\"width\":3345,\"height\":2592,\"caption\":\"Tempe data center. 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