Carter Validus Mission Critical REIT II, Inc. Acquires Virginia Data Center Properties for $85 Million
TAMPA, Fla.–(BUSINESS WIRE)–Carter Validus Mission Critical REIT II, Inc. (“CVMC REIT II”) announced its acquisition of the McLean Data Center Portfolio for $85 million. The portfolio consists of two colocation data center properties located in McLean, Virginia.
McLean I Property Features
- Two-story colocation data center facility
- 65,794 total square feet
- 94.9% leased for an approximately 16.5-year remaining term at acquisition
- Major tenant: A leading global telecommunications company
- 45,450 square feet of raised flooring
- Multi-layered security control procedures and an N+1 electrical design
- Redundant UPS in N+1 configuration and a battery bank provide emergency power
McLean II Property Features
- Three-story colocation data center facility
- 62,002 total square feet
- 100% leased for an approximately 7.5-year remaining term at acquisition
- Major tenant: PAETEC Communications, LLC, a Windstream company
- 40,000 square feet of raised flooring
- Multi-layered security control procedures including onsite personnel, biometric access systems, and video surveillance
- The HVAC system has near-2N cooling tower redundancy, near-2N chilled water pump redundancy, an N+1 backup DX air-cooled chiller, and dual loop chilled water
- Redundant 2N “A” side and “B” side power distribution with automatic failover
“We believe this acquisition exemplifies our ability to secure mission critical data centers in strong markets backed by industry-leading tenants under long-term leases. The McLean Data Center Portfolio is an important and high quality addition to our growing data center portfolio,” said Michael A. Seton, President of CVMC REIT II.
John E. Carter, Chief Executive Officer of CVMC REIT II, added, “As we continue to execute our mission critical, income-producing real estate investment strategy, our goal is to make decisions which will benefit stockholders, tenants, and capital partners. We believe this high-quality acquisition accomplishes that.”
About Carter Validus Mission Critical REIT II, Inc.:
Carter Validus Mission Critical REIT II, Inc. is a public, non-traded company headquartered in Tampa, Florida that has elected to be taxed, and believes it qualifies, as a real estate investment trust. Carter Validus Mission Critical REIT II, Inc. intends to acquire mission critical real estate assets located throughout the United States and abroad. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. Carter Validus Mission Critical REIT II, Inc. intends to focus its acquisitions on mission critical assets in the data center and healthcare sectors. See www.cvmissioncriticalreitii.com for more information.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although CVMC REIT II believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. CVMC REIT II undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in CVMC REIT II’s expectations.
Stacy Sheedy, 813-316-4292