Carter Validus Mission Critical REIT, Inc. Announces Definitive Agreement to Sell Chicago Data Center for Approximately $315,...
October 24 2017 - 4:15AM
Business Wire
Carter Validus Mission Critical REIT, Inc. (the “Company”)
announced today that it has entered into a definitive purchase and
sale agreement with an affiliate of Digital Realty Trust, LP (NYSE:
“DLR”) to sell a 251,141 square foot data center located on
approximately nineteen acres of land in the Chicago, Illinois
metropolitan area (the “Chicago Data Center”), for approximately
$315,000,000. The net book value of the Chicago Data Center,
including intangible assets recorded upon acquisition of the
property, capitalized leasing costs and straight-line rent
receivable was approximately $227,300,000 at September 30,
2017.
Separately, the Company announced today that it has entered into
a definitive purchase and sale agreement with an affiliate of
Mapletree Investments Pte Ltd, a Singapore headquartered real
estate investment company and Mapletree Industrial Trust, a
Singapore Exchange listed Real Estate Investment Trust, to sell a
14-property data center portfolio (the “Portfolio”), for
approximately $750,000,000. The net book value of the Portfolio,
including intangible assets recorded upon acquisition of the
properties and straight-line rent receivable, was approximately
$598,400,000 at September 30, 2017.
The transactions are expected to close in the fourth quarter of
2017. The transactions are subject to the completion of certain
closing conditions, and it is possible that the timing of the
closings may be delayed or that the transactions do not close.
Independent Advisors
Moelis & Company LLC acted as lead financial advisor to the
Company, along with KeyBanc Capital Markets Inc. and SunTrust
Robinson Humphrey, Inc. acting as co-advisors, and Morris, Manning
& Martin, LLP serving as legal counsel to the Company.
About Carter Validus Mission Critical
REIT, Inc.
Carter Validus Mission Critical REIT, Inc. is a real estate
investment trust that invests in mission critical real estate
assets located throughout the United States. Mission critical real
estate assets are purpose-built facilities designed to support the
most essential operations of tenants. Carter Validus Mission
Critical REIT, Inc. focuses its acquisitions on mission critical
assets in the data center and healthcare sectors.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “predict,”
“project,” “should,” “will” and other similar terms and phrases,
including references to assumptions and forecasts of future
results. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and
other factors that may cause the actual results to differ
materially from those anticipated at the time the forward-looking
statements are made. Although the Company believes the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that the
expectations will be attained or that any deviation will not be
material. The Company undertakes no obligation to update any
forward-looking statement contained herein to conform the statement
to actual results or changes in the Company’s expectations.
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Carter ValidusStacy Sheedy, 813-316-4292Marketing
Managerssheedy@cvreit.com