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Carter Validus Mission Critical REIT, Inc. Successfully Executes Strategy to Complete Monetization of All Data Center Assets

August 8, 2018

Carter Validus Mission Critical REIT, Inc. Successfully Executes Strategy to Complete Monetization of All Data Center Assets

August 1, 2018 | Carter Validus

Carter Validus Mission Critical REIT, Inc. (“we”, “us,” “our,” or the “Company”) announced today that it sold the last data center in its data center asset portfolio for $15.0 million, successfully monetizing all of its data center assets.

Andover Data Center Sale

On July 25, 2018, the Company sold the Andover Data Center to an unaffiliated company, for $15.0 million. The property is a mission-critical data center located in Andover, Massachusetts, approximately 25 miles north of Boston, and consists of 92,700 rentable square feet.

The aggregate net book value of the Andover Data Center, including intangible assets and liabilities recorded upon acquisition of the property and straight-line rent receivable, was approximately $10.6 million as of June 30, 2018.

“I am pleased to announce we consummated the sale of our last data center asset. This latest transaction brings our Company’s strategy to pursue liquidity for our entire data center portfolio to a successful conclusion,” stated Michael A. Seton, Chief Executive Officer and President of the Company.

About Carter Validus Mission Critical REIT, Inc.

Carter Validus Mission Critical REIT, Inc. currently qualifies as a real estate investment trust and 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.

Source:  Carter Validus Press Release August 1, 2018

 

Learn more about Carter Validus on the Blue Vault Sponsor Focus page

 

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Gil Armour, CFP
February 3, 2016

I have been using Blue Vault Partners for the past five years.  I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs.  The reports help me analyze which sponsors are doing a responsible job of managing their offerings.  This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.