|By Business Wire||
|May 23, 2014 09:30 AM EDT||
Ascent, a leading provider of comprehensive data center solutions, announced today a partnership with Carter Validus Mission Critical REIT, Inc. (CVMC REIT) whereby CVMC REIT acquired the Ascent CH2 Data Center Facility in Northlake, Illinois (a suburb of Chicago) for $211.7 million and will provide new capital for the continued build out and expansion of the facility. Ascent will continue to work directly with current and future tenants through its operation of the CH2 Facility and will manage all data center development, design, construction, engineering and operational services.
This partnership provides both parties an opportunity to focus on their core competencies, where CVMC REIT will deliver financial resources to the project while Ascent will continue to deliver custom, built-to-suit data center suites as well as wholesale colocation space. Current CH2 tenants will continue to benefit from Ascent’s 24/7-onsite operational support, remote management and Smart Hands services.
“Partnering with CVMC REIT allows Ascent to concentrate on building out our current portfolio of data center facilities and increase strategic investment in the development of future locations,” said Phil Horstmann, CEO of Ascent. “CVMC REIT’s commitment to the data center space is the perfect complement to our design, construction and operational capabilities, strengthening our ability to provide current and future customers with the innovative solutions and mission-critical services they demand.”
CH2 is a 250,000 square foot multi-tenant facility featuring Ascent’s purpose-built Dynamic Data Center SuiteSM model and shared infrastructure colocation suites. Accommodating users with critical power requirements from less than 1 MW up to 20 MW of gross power, the facility is designed for a broad range of customers with diverse computing and power density requirements.
“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. We look forward to our relationship with Ascent, a recognized leader in the data center industry, who will continue to manage and develop the property for CVMC REIT,” stated Michael Seton, President of Carter/Validus Advisors, the advisor to CVMC REIT.
“CH2 represents our largest single portfolio acquisition to date and demonstrates our continuing commitment to the data center space,” said John Carter, CEO of CVMC REIT.
Ascent is a leading provider of comprehensive solutions for the development, design, engineering, construction and operation of data centers. Ascent partners with clients to provide powerful, flexible and truly customized solutions across the full life cycle of a facility, within the Dynamic Data Center SuiteSM model, and offers clients a broad range of delivery models and lease options spanning Powered Suites, Turnkey Infrastructure Suites, Build-to-Suit and critical systems operations.
Founded in 1998, Ascent provides full life cycle support from the design and development of new, expanded or upgraded facilities to daily maintenance and management backed by 24/7 operations support. Ascent is a one-stop shop for all critical infrastructure needs, and works hand-in-hand with clients to provide completely flexible and autonomous design and operations options to ensure their individual needs are met.
Additional information on Ascent’s offerings can be found at www.ascent-corp.com.
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.
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.
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