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Carter Validus Mission Critical REIT II Buys Massachusetts Data Center for $37 Million

Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, purchased the Andover Data Center II in Andover, Massachusetts for $37 million.

Constructed in 2000, Andover Data Center II is a two-story, 153,000-square-foot facility located on nearly 23 acres. The property has poured-in place reinforced concrete footings and foundation walls with a façade of insulated metal panels and concrete slab.

“We believe Andover is a favorable location for this property due to its close proximity to Boston’s large concentration of businesses with demand for data center services, and its cooler temperatures are ideal for data center environments. We are pleased with the quality of the facility as well as the tenants that fully occupy it,” said Michael Seton, president of CVMC REIT II.

The property is 100 percent leased to two tenants. One of the tenants, Navisite LLC, is part of Spectrum Enterprise and a subsidiary of Charter Communications, an international provider of cloud-enabled hosting, managed applications and services. The other tenant is a weather forecasting and information technology company that provides weather and data-driven business solutions to global clients.

Security features at the facility include dual authentication access requirements, onsite security staff, video surveillance, and bio-scan palm readers. Diverse fiber-entry points with multiple carriers are available onsite providing comprehensive network redundancy, and power is provided by 2,500 kVA pad-mounted transformers with backup available through four Caterpillar generators, five 750 kVA Enersys batteries and four 275 kVA Powerware UPS.

Carter Validus Mission Critical REIT II, which went effective in May 2014, focuses on net leased healthcare real estate and data center properties. As of January 2, 2017, the company has raised $819.3 million in investor equity from the sale of class A and class T shares. The REIT’s portfolio is comprised of 47 properties (35 healthcare and 12 data centers) purchased for approximately $890 million.