Sila Realty Trust closes sale of $1.32b data center portfolio

Sila Realty Trust has sold a 29-property data center portfolio to wholly owned subsidiaries of Mapletree Industrial Trust (MIT), a REIT listed on the Singapore Exchange, for $1.32 billion.

Michael Seton, CEO and president of the company, stated, “We are pleased to announce the completion of the transaction with MIT. The sale of the data center portfolio represents a substantial gain for the company and firmly positions Sila Realty Trust Inc. as a pure-play healthcare REIT. We believe that our strong healthcare portfolio, diversified by geography and tenancy, coupled with our fortress-like balance sheet composed of significant net worth, low leverage and ample liquidity for growth opportunities and further diversification of the portfolio, will enhance the overall strength and position of the company for a liquidity event through a public market listing, subject to, among other considerations, market conditions, within the time frame communicated during our offering.”