Ascent Corp. has sold its Northlake data center complex to a real estate investment trust for $211.7 million.
St. Louis-based Ascent said the partnership with Carter Validus Mission Critical REIT Inc. will provide capital for expansion of the center while letting Ascent focus on its data center business. The Northlake center, officially known as Ascent CH2 Data Center Facility, is a 250,000-square-foot multi-tenant building.
“CVMC REIT’s commitment to the data center space is the perfect complement to our design, construction and operational capabilities,” Ascent CEO Phil Horstmann said.
Ascent will continue to manage and develop the property.
“Given this property’s desirable location and long term leases with high-quality tenants, we believe that CH2 is a great addition to our growing portfolio of mission critical real estate assets,” said Michael Seton, president of Carter/Validus Advisors.