CV Data Center Growth & Income REIT, a Regulation D real estate investment trust, has purchased a data center property located in St. Louis, Missouri for approximately $3.2 million, excluding acquisition fees and costs.
The St. Louis Data Center is situated on 2.5 acres, contains approximately 25,000 rentable square feet and is leased by a wholly-owned subsidiary of an investment-grade global telecommunications service provider, which was not named by the company.
The single-story building has undergone numerous renovations since the tenant’s original deployment in 1994. As part of the acquisition process, the tenant executed a 10-year lease extension, with several renewal options.
“The acquisition of the St. Louis Data Center is an excellent example of our focus on mission critical data center properties with strong in-place income and critical infrastructure attributes,” said Michael Seton, chief executive officer of CV REIT Management.
CV REIT Management Company is a group of companies that engages in the ownership and management of income-producing commercial real estate with a focus on data center and healthcare facilities.