Home Alts News StratCap Buys Milwaukee Data Center in Off-Market Transaction

StratCap Buys Milwaukee Data Center in Off-Market Transaction

StratCap, a privately held alternative investment management platform, reported that its data center real estate division, StratCap Data Centers, has purchased a 28,500-square-foot data center located in Franklin, Wisconsin.

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StratCap, a privately held alternative investment management platform, reported that its data center real estate division, StratCap Data Centers, has purchased a 28,500-square-foot data center located in the Milwaukee suburb of Franklin, Wisconsin.

Constructed in 2008, the property sits on 2.6 acres and is fully leased on a triple-net basis to Expedient, a multi-cloud and managed services provider that operates more than 20 data center locations.

The data center currently has 1.2 megawatts of critical load, which is expandable to 2.4 megawatts by building out existing shell space, the company said. There is approximately 15 years remaining on the current lease term, which also include 2.5 percent annual rent escalators and three 3-year renewal options.

“We were able to diversify our portfolio in an off-market transaction with what we believe is an attractive asset acquired below appraised value, with a high-quality tenant, in a growing data center market,” said Bryan Marsh, chief executive officer of StratCap Data Centers. “We think the relatively predictable rental revenue from the in-place, long-term lease and the continued geographic diversification of our assets will add value to our overall portfolio.”

StratCap is a privately held, global alternative investment management platform that focuses on a range of digital economy investments with an emphasis on digital infrastructure, sustainability, and technology-centric sectors.​

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