ASB agrees to sell Dallas data center for $800m

ASB Real Estate Investments has sold Infomart Dallas, the 1.6 million-gross-square-foot data center and office complex, to Equinix for $800 million.

ASB agreed to execute the transaction on behalf of its Allegiance Fund, a $7.4 billion core real estate investment vehicle. The sale is targeted to close during the second quarter of 2018.

An early institutional investor in data center properties, ASB purchased Infomart Dallas in 2005, expanding its capacity to 110 carriers with major tenants that include Equinix, Bank of America and Verizon.