Sila Realty Trust, Inc. Announces Agreement to Sell its 29-Property Data Center Portfolio for Approximately $1.32 Billion
May 20, 2021 | James Sprow | Blue Vault
TAMPA, FL (May 19, 2021) – Sila Realty Trust, Inc. (the “Company”) announced today that it has entered into a purchase and sale agreement with wholly-owned subsidiaries of Mapletree Industrial Trust, a real estate investment trust listed on the Singapore Exchange (“MIT”), for up to 29 data center properties (the “Properties”) owned by the Company for approximately $1,320,000,000 (the “Transaction”), subject to certain potential purchase price adjustments. The Properties constitute the entirety of the data center properties owned by the Company.
Michael A. Seton, Chief Executive Officer and President, stated, “We are pleased to enter into this agreement with MIT to sell our data center properties. This action marks another key step in Sila Realty Trust’s evolution to provide a clear path for the Company to pursue a strategy as a pure-play healthcare REIT. Upon closing this Transaction, we will continue to be focused on enhancing the value of our Company through internal and external growth opportunities which, we believe, will maximize optionality to achieve liquidity for our stockholders within the timeframe communicated during our offering.”
The Transaction is expected to be completed in one or more closings during the third quarter of 2021. The Transaction is subject to the completion of certain closing conditions, and it is possible that the timing of the closing(s) may be delayed or that the Transaction does not close.
Source: SEC
