Carter Validus Mission Critical REIT II Buys Two Virginia Data Centers

Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, purchased the McLean Data Center Portfolio for $85 million, which consists of two colocation data center properties located in McLean, Virginia.

The McLean I property, which is nearly 95 percent leased, features a two-story colocation data center facility totaling 65,800 square feet. The property is leased to an unnamed global telecommunications company. The McLean II property is a three-story colocation data center facility totaling 62,000 square feet that is currently 100 percent leased. The major tenant is PAETEC Communications LLC, a telecommunications company.

“We believe this acquisition exemplifies our ability to secure mission critical data centers in strong markets backed by industry-leading tenants under long-term leases. The McLean Data Center Portfolio is an important and high quality addition to our growing data center portfolio,” said Michael Seton, President of CVMC REIT II.

Carter Validus Mission Critical REIT II, which went effective in May 2014, focuses on net leased healthcare real estate and data center properties. As of October 14, 2016, the company has raised $755.5 million in investor equity from the sale of class A and class T shares, and oversees a portfolio of 43 properties (34 healthcare and 9 data centers) for a total purchase price of approximately $704.4 million.

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