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Carter Validus Mission Critical REIT Purchases Ascent’s CH2 Facility, Ascent to Continue Data Center Management, Operations, Engineering, and Construction
|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
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
CH2 is a 250,000 square foot multi-tenant facility featuring Ascent’s
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
“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
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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