IO Completes $125 Million Sale-Leaseback with Carter Validus Mission Critical REIT

PHOENIX--()--IO, a worldwide leader in software-defined data center technology, services, and solutions, today announced a partnership with Carter Validus Mission Critical REIT, Inc. (CVMC REIT) through which CVMC REIT acquired a 100% interest in the real estate containing the IO Phoenix and IO Scottsdale data centers. CVMC REIT immediately leased the data centers back to IO in a sale-leaseback transaction. The combined transaction was valued at $125 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 center footprint while CVMC REIT will own the real estate.

“This transaction is aligned with IO’s long-term strategic plan,” said 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 centers for our customers.”

“We are excited about adding IO to our roster of strong data center tenants in our portfolio and look forward to our continued relationship with them,” said Michael Seton, president and chief investment officer, Carter Validus Advisors, LLC. “The quality of these two assets will be a great addition to our growing portfolio of high quality mission critical assets.”

About IO

Founded in 2007, IO is a worldwide leader in software defined data center technology, services and solutions that enable businesses and governments to intelligently control their information.

About Carter Validus Mission Critical REIT

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.

IO, the IO logo and all other IO trademarks are owned by IO Data Centers, LLC and its affiliates. © 2014.

Forward-Looking Statements

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.

Contacts

IO
Lauren Rosenblum, 480-513-8516
lrosenblum@io.com
or
Carter Validus Mission Critical REIT, Inc.
John Carter
CEO
813-287-0101

Release Summary

IO Completes $125 Million Sale-Leaseback with Carter Validus Mission Critical REIT

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Contacts

IO
Lauren Rosenblum, 480-513-8516
lrosenblum@io.com
or
Carter Validus Mission Critical REIT, Inc.
John Carter
CEO
813-287-0101