Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, recently purchased two single-story data centers in Rancho Cordova, California near Sacramento for a combined $51 million.
According to the company’s most recent annual report, Rancho Cordova Data Center I and Rancho Cordova Data Center II were purchased last month for $36.8 million and $14.2 million, respectively. Carter Validus Mission Critical REIT II funded the acquisitions with net proceeds from its initial and follow-on offerings and its secured credit facility.
As originally reported by the Sacramento Business Journal, Rancho Cordova Data Center I is a 69,000-square-foot property built in 1982 and located at 11085 Sun Center Drive, while the 63,000 Rancho Cordova Data Center II, built in 1984, is located less than one mile away at 3065 Gold Camp Drive.
Carter Validus Mission Critical REIT II invests in net leased data center and healthcare assets and raised approximately $1.3 billion in investor equity since launching in May 2014. The REIT’s $1.6 billion portfolio was comprised of 70 properties (25 data center and 45 healthcare properties) as of January 16, 2018.