Carter Validus Mission Critical REIT Sells 14-Property Data Center Portfolio for $750 Million

Carter Validus Mission Critical REIT Inc., a publicly registered non-traded real estate investment trust, has sold a 14-property data center portfolio for $750 million to an affiliate of Mapletree Investments Pte Ltd, a Singapore headquartered real estate development, investment and capital management company and Mapletree Industrial Trust, a Singapore Exchange listed REIT.

The company used the proceeds to repay mortgage loans associated with the portfolio for approximately $177.8 million, including accrued interest and other loan costs. The net proceeds were approximately $561.6 million, after transaction costs.

“We believe the sale of the portfolio to Mapletree represents another step towards our ultimate goal of providing value to our stockholders,” said CEO John Carter. “The company is actively evaluating how to best deploy the proceeds from our capital transactions, including potentially paying a special distribution to our stockholders.”

In related news, the company sold an approximately 250,000-square-foot data in the Chicago, Illinois metropolitan area for $315 million to an affiliate of Digital Realty Trust LP, as reported by The DI Wire last week.

Carter Validus Mission Critical REIT invests in net leased data center and healthcare assets and oversaw a portfolio of 84 properties (19 data center and 64 healthcare properties) purchased for approximately $2.1 billion, as of the third quarter 2017. The company’s offering, which was declared effective by the SEC in December 2010, closed in June 2014 after raising more than $1.7 billion in investor equity.

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