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Transactions - SEPTEMBER 15, 2020

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Singapore-based investor pays $200m-plus for Virginia data center and office

by Andrea Zander

Singapore-based Mapletree Industrial Trust has acquired a data center and office property located in Virginia, according to a stock exchange announcement.

The acquisition will be between $200.6 million and $262.1 million.

The property, located in Virginia, is fully leased on a triple-net basis with a balance lease term of more than five years to a multinational company with strong credit standing.

The deal is expected to close in first quarter 2021.

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