Carter Validus Mission Critical REIT II Adds Three Properties to Portfolio

Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, purchased two data center properties and the final property of its Texas Rehabilitation Hospital Portfolio for a combined $61.6 million. In the first half of 2017, the company has purchased 11 properties for a combined $398 million.

CV Mission Critical REIT II acquired the Sunnyvale Data Center, a 76,600-square-foot, two-story colocation data center located in Sunnyvale, California, for $36.8 million. The property is 100 percent leased to a retail colocation services provider.

The company also completed the final acquisition in its four-property Texas Rehabilitation Hospital Portfolio for a $14.5 million. The 44,700-square foot in-patient rehabilitation facility is located in San Antonio, Texas and offers private and semi-private rooms, three rehabilitation gyms, onsite radiology, a pharmacy, and a cafeteria.

The property houses the Warm Springs Veterans Center of Excellence, a controlled access specialty unit designed to meet the rehabilitation needs of active duty military veterans and their family members. The other three properties in the fully leased portfolio are located in Austin, Allen, and Beaumont, Texas and were purchased in March 2017 for $71.1 million, as reported by The DI Wire.

The REIT also purchased the Cincinnati Data Center, a three-story, 58,600-square-foot enterprise data center, for a $10.3 million. The property sits on nearly five acres and includes an adjacent 11,200-square-foot building that houses supporting infrastructure. The Cincinnati Data Center is 100 percent leased to a global investment-grade technology company.

“2017 has been a productive and active buying year for CV Mission Critical REIT II so far,” said chief executive officer John Carter. “We are pleased with the quality and level of investment opportunities we have seen this year, and as the portfolio grows to approximately 4.6 million rentable square feet of high-quality real estate under management, we believe we are well-positioned to deliver desired results for our investors.”

Carter Validus Mission Critical REIT II, which invests in net leased data center and healthcare assets, went effective in May 2014 and has raised $937.1 million in investor equity. The REIT’s portfolio is comprised of 62 properties (20 data center and 42 healthcare properties) that were purchased for approximately $1.4 billion.

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