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IO completes USD125m sale-leaseback with Carter Validus Mission Critical REIT

Wed, 03/09/2014 - 06:04

Carter Validus Mission Critical REIT (CVMC REIT) has acquired a 100 per cent interest in the real estate containing the IO Phoenix and IO Scottsdale data centres.

CVMC REIT immediately leased the data centres back to IO in a sale-leaseback transaction. The combined transaction was valued at USD125 million.
This partnership provides both parties an opportunity to focus on their core competencies. IO will continue to deliver colocation and cloud services across its global data centre footprint while CVMC REIT will own the real estate.
“This transaction is aligned with IO’s long-term strategic plan,” says Anthony Wanger, president of IO. “Partnering with Carter Validus allows IO to concentrate its focus on what we do best: Operating world-class IO data centres for our customers.”
“We are excited about adding IO to our roster of strong data centre tenants in our portfolio and look forward to our continued relationship with them,” says Michael Seton, president and chief investment officer, Carter Validus Advisors. “The quality of these two assets will be a great addition to our growing portfolio of high quality mission critical assets.”

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