Landmark Infrastructure Partners Acquires $52M Data Center
The digital infrastructure acquisition encompasses 138,000 square feet of space and a 5.2 megawatt critical capacity.
EL SEGUNDO, CA – Landmark Infrastructure Partners LP has acquired a data center portfolio for $52.5 million from a market leader in web hosting and managed cloud services.
The acquired portfolio encompasses three data center sites located in the Midwest. The properties comprise 138,000 square feet and a 5.2 megawatt critical capacity.
The properties are fully occupied by a tenant, under a 15 year net lease.
The acquisition was funded by borrowings from Landmark Infrastructure Partners’ existing revolving credit facility. The firm expects the purchase to be immediately accretive to its adjusted funds from operations.
“We are extremely pleased to announce this acquisition from a national market leader in its industries,” says Tim Brazy, CEO of Landmark Infrastructure Partners’ general partner. “We believe our sponsor has built a best-in-class digital infrastructure platform and that effort should continue to benefit the partnership as it grows its data center portfolio.”
Brazy adds, “This purchase represents a partial redeployment of the capital from the recent sale of our European outdoor advertising portfolio and we will continue to look for attractive acquisition opportunities going forward.”
Representing the seller in the transaction was CBRE’s Jordan Thompson and David Saad.