TAMPA, Fla.--(BUSINESS WIRE)--Carter Validus Mission Critical REIT, Inc. (the “Company”) announced today that it acquired an enterprise data center property in Philadelphia, Pennsylvania for a purchase price of $65,000,000. The property is 100% leased to a large investment management company.
The 121,000 square foot facility was built for the specific purpose of housing data center equipment. It was constructed in accordance with stringent reliability and security standards, allowing the structure to potentially withstand extreme weather conditions including hurricanes, tornados, and earthquakes.
“We believe the quality of this tenant, combined with their long remaining lease term and significant capital investment in the property will provide a consistent rental income stream for our portfolio for years to come,” said John Carter, Chief Executive Officer of the Company.
CBRE represented the seller in connection with sale of the property to the Company.
Carter Validus Mission Critical REIT, Inc. is a real estate investment trust that invests in mission critical real estate assets located throughout the United States. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. Carter Validus Mission Critical REIT, Inc. focuses its acquisitions of mission critical assets in the data center and healthcare sectors.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to confirm the statement to actual results or changes in the Company's expectations.