Legacy Investing and joint venture partner Invesco Real Estate have closed a second sale-leaseback transaction with Flexential Corp. for their 18-megawatt data center in Plano, Texas.
The Plano data center is a state-of-the art, Tier III facility, which is being expanded by 130,000 square feet to more than 260,000 square feet.
The transaction follows the recent sale-leaseback for the construction of Flexential’s Hillsboro 3 data center outside Portland, Ore., which Legacy and Invesco completed in April. Flexential Corp. is a provider of data center colocation, cloud and connectivity services.
“These acquisitions are part of Legacy’s broader focus on partnering with data center operating companies, enabling them to monetize their real estate–related assets, including funding construction, so they can concentrate their capital on operations and thereby maximize their returns,” said Jay Rappaport, CEO and co-founder of Legacy Investing.
