Carter Validus Mission Critical REIT II, a nontraded REIT, has plans to raise another $1 billion through the issuance of up to 500 million shares, according to AI Insight.
The company ceased offering shares pursuant to its initial public offering on Nov. 24, 2017, after having raised gross proceeds, including distribution reinvestments, of more than $1.2 billion.
The fund seeks to acquire well-maintained and strategically located mission-critical commercial real estate properties in high-growth sectors, including the data center and healthcare sectors, which provide current cash flow from operations.
The fund’s investment objectives include paying regular cash distributions to stockholders and preserving, protecting and returning capital contributions to shareholders.
Recently, Carter Validus Mission Critical REIT II acquired two data centers for $34.4 million. The two properties are situated in King of Prussia, Pa., and Tempe, Ariz. And it acquired the Silverdale Healthcare Facility II, located in Silverdale, Wash., for a $6.95 million contract purchase price in September.
