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Sign in Sign up for a FREE subscriptionAllied to sell UDC Portfolio to KDDI Corporation for $1.35b
Allied Properties REIT has entered into an agreement to sell its network-dense, carrier-neutral, urban data center (UDC) portfolio in downtown Toronto to KDDI Corporation for $1.35 billion, $118 million above IFRS net asset value.
The portfolio is comprised of freehold interests in 151 Front Street West and 905 King Street West and a leasehold interest in 250 Front Street West. Allied has connected the properties through high-count, diverse fiber, enabling the Portfolio to support more telecommunication, cloud and content networks than any other data-center portfolio in Canada. The portfolio is unencumbered and does not include 20 York Street and Skywalk, the 2.5-acre site for Union Centre that is now zoned for more than 1.3 million square feet of urban workspace.
KDDI is a Japanese telecommunications provider and Fortune Global 500 company that owns and operates data-centers in Asia, Europe and the United States through its subsidiary, Telehouse.
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