Carter Validus Mission Critical REIT Completes Data Center Portfolio Liquidation

Carter Validus Mission Critical REIT Inc., a publicly registered non-traded real estate investment trust, has sold Andover Data Center, the last data center asset in its portfolio, for $15 million.

Carter Validus Mission Critical REIT Inc., a publicly registered non-traded real estate investment trust, has sold Andover Data Center, the last data center asset in its portfolio, for $15 million.

Andover Data Center is located in Andover, Massachusetts, approximately 25 miles north of Boston, and consists of 92,700 rentable square feet.

“I am pleased to announce we consummated the sale of our last data center asset. This latest transaction brings our company’s strategy to pursue liquidity for our entire data center portfolio to a successful conclusion,” stated Michael Seton, chief executive officer and president of the company.

The aggregate net book value of the Andover property, including intangible assets and liabilities recorded upon acquisition of the property and straight-line rent receivable, was approximately $10.6 million as of June 30, 2018.

Carter Validus Mission Critical REIT invests in net leased data center and healthcare assets and owns a $1 billion portfolio comprised of 63 healthcare properties. The offering was declared effective by the SEC in December 2010 and closed in June 2014 after raising more than $1.7 billion in investor equity, according to Summit Investment Research.

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