July 27, 2021
Sila Realty Trust, Inc. Announces Closing of Sale of 29-Property Data Center Portfolio to Mapletree Industrial Trust, Increased Per Share NAV, and Special Cash Distribution to Stockholders

Sila Realty Trust, Inc. (the “Company”) announced today that it has sold a 29-property data center portfolio (the “Portfolio”), to wholly owned subsidiaries of Mapletree Industrial Trust (“MIT”), a real estate investment trust listed on...

Sila Realty Trust, Inc. Announces Closing of Sale of 29-Property Data Center Portfolio to Mapletree Industrial Trust, Increased Per Share NAV, and Special Cash Distribution to Stockholders

July 22, 2021 | Sila Realty Trust, Inc.

TAMPA, Fla.–(BUSINESS WIRE)–Sila Realty Trust, Inc. (the “Company”) announced today that it has sold a 29-property data center portfolio (the “Portfolio”), to wholly owned subsidiaries of Mapletree Industrial Trust (“MIT”), a real estate investment trust listed on the Singapore Exchange, for an aggregate sale price of $1,320,000,000 (the “Transaction”).

Michael A. Seton, Chief Executive Officer 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.”

The original aggregate acquisition cost of the Portfolio determined in accordance with GAAP, inclusive of capital improvements on the properties, was approximately $965,215,000.

Moelis & Company LLC acted as lead financial advisor to the Company, and Holland & Knight LLP serves as legal counsel to the Company.

Estimated Net Asset Value

The Company announced today that its board of directors (the “Board”) unanimously approved an updated estimated net asset value (or “NAV”) of $9.95 per share for each of the Company’s Class A common stock, Class I common stock, Class T common stock and Class T2 common stock, calculated as of May 31, 2021.

The aggregate real estate value of the Company’s same-store portfolio, defined as properties owned by the Company as of September 30, 2020 (the calculation date of the last estimated per share NAV) increased primarily due to the increase in the fair market value of the properties owned by the Company, including those which were part of the Transaction.

“The increase in the estimated value of our same-store real estate portfolio, resulting in an increase in the NAV of the Company, is, we believe, a testament to our diverse portfolio which continues to demonstrate resilience and durable income streams through this unusual time and global pandemic,” stated Mr. Seton.

Read Full Press Release

Recent

Go Store It Opens New Storage Facility in Redlands, CA

Go Store It Opens New Storage Facility in Redlands, CA

Go Store It Self Storage has opened its latest state-of-the-art storage facility in Redlands, Ca. Go Store It Redlands is strategically designed to meet the needs of the Redlands community and the rapidly growing Inland Empire. The 114,750 square foot, 838-unit facility sits on approximately six and a half acres, and has over 400 feet…

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now