Transactions - MAY 23, 2014

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IN-DEPTH: Carter REIT acquires data center for $211m

by Andrea Waitrovich

Carter Validus Mission Critical REIT has paid $211 million, or $843 per square foot, for CH2 Data Center in Melrose Park, Ill.



Ascent Corp. has sold the 251,141-square-foot data center property. The firm acquired the property in 2010 for $11.7 million from CenterPoint Properties, which acquired it from Safeway in 2001 for $7.7 million. Ascent will continue to manage and develop the property.

“CH2 represents our largest single portfolio acquisition to date and demonstrates our continuing commitment to the data center space,” says John Carter, CEO of CVMC REIT, in a statement.

The new owners will provide new capital for th

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