Mapletree Industrial Trust buys data center portfolio for $750m

Carter Validus Mission Critical REIT has sold a 14-property data center portfolio for $750 million to an affiliate of Mapletree Investments, a Singapore headquartered real estate development, investment, and capital management company and Mapletree Industrial Trust.

The assets are located in California, Georgia, Michigan, New Jersey, North Carolina, Pennsylvania, Tennessee, Texas and Wisconsin. The portfolio totals 2.3 million square feet and is 97.4 percent occupied.
U.S. data center markets absorbed a total of 186.2 megawatts from January through June this year compared to 249.1 megawatts across the same timeframe in 2016, according to JLL’s first half data center outlook report.

This year there have been several massive acquisitions and buyouts announced, surpassing $10 billion during the first half of 2017. The activity comes at a time when the industry is headed toward larger, more efficient facilities that offer comprehensive and flexible product to users looking for a consistent global vendor