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Carter Validus Mission Critical REIT II Buys Atlanta Data Center for $166 Million

Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, purchased the 250 Williams Atlanta Data Center property for approximately $166 million.

Commonly known as the American Cancer Society Center building, 250 Williams houses approximately one million square feet of office and data center space and is positioned in downtown Atlanta, Georgia adjacent to Centennial Olympic Park.

The nine-story facility is 87.8 percent leased to 12 tenants and serves as the global headquarters of the American Cancer Society. The company noted that each floor can support data center loads and the ceiling heights throughout the building are 14 feet or greater, allowing for additional data center occupancy. 250 Williams includes a four-level, partially below-ground parking structure with 1,035 parking spaces.

The REIT’s property management affiliate, Carter Validus Real Estate Management Services II, will serve as the building’s property management company.

“This acquisition expands our presence in the Southeast and contributes to our portfolio’s diversity by tenancy and geography,” said Michael Seton, president of CV Mission Critical REIT II. “We look forward to working with the tenants at 250 Williams.”

Last month, The DI Wire reported that the company acquired a 53,000-square-foot data center in Charlotte, North Carolina for approximately $16.4 million.

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 since inception. The REIT’s portfolio is comprised of 59 properties (18 data center and 41 healthcare properties) that were purchased for approximately $1.3 billion.

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