TAMPA, Fla.--(BUSINESS WIRE)--Carter Validus Mission Critical REIT II, Inc. (“CVMC REIT II”) announced its acquisition of the 288,000-square-foot building housing the AT&T Hawthorne Data Center for approximately $79.5 million.
- One-story, powered shell data center located on a 15.87-acre site
- An on-site substation delivers a 12,470-volt, 22.5 MVA commercial power service feed
- The site is surrounded by an 8-foot iron fence with guarded gates on the east and west ends of the property
- Security features include 24-hour on-site security staff, closed circuit monitors, secure key-card access, biometrics scanner, a mantrap, and alarmed doors
CVMC REIT II will assume the existing absolute net lease with AT&T Corporation.
AT&T Corporation, a wholly-owned subsidiary of AT&T Inc., is a leading provider of IP-based services to multinational companies and serves more than 3.5 million business customers from the largest global companies to small businesses.
“The acquisition of the AT&T Hawthorne Data Center represents an opportunity to invest in a mission critical property with a strong brand affiliation. We strive to be a true capital partner for our tenants and are excited to expand our already important relationship with AT&T Corporation by adding this high-quality data center to our growing portfolio,” said Michael A. Seton, President of CVMC REIT II.
John E. Carter, Chief Executive Officer of CVMC REIT II, added, “This is a great example of how we continue to execute our mission critical, income-producing real estate investment strategy and we believe this acquisition will translate into additional value for our portfolio.”
About Carter Validus Mission Critical REIT II, Inc.:
Carter Validus Mission Critical REIT II, Inc. is a public, non-traded company headquartered in Tampa, Florida that has elected to be taxed, and believes it qualifies, as a real estate investment trust. The Company intends to acquire mission critical real estate assets located throughout the United States and abroad. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. Carter Validus Mission Critical REIT II, Inc. intends to focus its acquisitions on mission critical assets in the data center and healthcare sectors. See www.cvmissioncriticalreitii.com for more information.
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 conform the statement to actual results or changes in the Company's expectations.