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 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 cloud and data center colocation 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 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.
Founded in 2007, IO provides the data center as a service @scale™. IO internet data centers are engineered to deliver the optimal data center capacity, security, network and cloud inter-connectivity for mission critical applications of any scale. IO operates large data center campuses, featuring over 2 million square feet, hundreds of networks and 300 MWs in North America and Singapore. For more than a decade, IO has earned the trust of the most demanding technology users by delivering the data center at scale to digital-first enterprises, cloud companies, hyperscale service providers, governments and businesses worldwide. To learn more about IO @scale™, visit io.com.
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