DALLAS–ASB Real Estate Investments completed the previously announced sale of Infomart Dallas, the iconic 1.6 million-square-foot data center and office complex, to Equinix Inc., the global interconnection and data center company, for $800 million. The transaction consideration consisted of cash and debt securities, which will be paid out to ASB over a 36-month period following closing.
ASB made the sale on behalf of its Allegiance Fund, a $7.4 billion core real estate investment vehicle. ASB Real Estate Investments was advised by DH Capital, as its exclusive financial advisor, and DLA Piper LLP, as legal advisor on the transaction.
Last month, ASB sold three other data centers, totaling 665,000 square feet of space, and those operations to an affiliate of IPI Data Center Partners Management LLC. Those facilities are located in San Jose; Hillsboro, OR; and Ashburn, VA. No sales price was disclosed at the request of the buyer.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
