Carter Validus Sells $750M Data Center Portfolio
ByA joint venture of Mapletree Investments Pte Ltd. and Mapletree Industrial Trust has formed an unlisted, single-purpose trust, Mapletree Redwood Data Centre Trust (MRDCT), to invest in a 14-asset data center portfolio. Carter Validus Mission Critical REIT sold the properties for approximately $750 million. Per the agreement, Mapletree Investments holds a 60 percent interest in MRDCT, while Mapletree Industrial Trust holds the other 40 percent.
“We are pleased with the completion of this sale of the portfolio to Mapletree, which we strategically assembled over a period of years through on- and off-market acquisitions, and represents a notable gain for the company,” said Michael Seton, president of Carter Validus Mission Critical REIT, in a prepared statement…
