The Sunnyvale Data Center is a 76,573-square-foot, two-story colocation data center constructed of concrete and steel frame with a membrane roof. Located in Sunnyvale, California, the building is 100% leased to a leading retail colocation services provider.
Cincinnati Data Center: Acquired on June 30, 2017, for a $10.3 million contract purchase price
In addition, and in accordance with its leverage strategy, CV Mission Critical REIT II entered into the following term loans:
- On June 15, 2017, a $116.2 million loan from KeyBank National Association
- On June 28, 2017, a $22.5 million loan from Siemens Financial Services, Inc.
- On June 29, 2017, a previously reported $39.9 million loan from Capital One, National Association, which was originated on April 20, 2017, increased to $50.4 million in connection with the final property in the Texas Rehabilitation Hospital Portfolio
Michael Seton, President of CV Mission Critical REIT II, added, “We believe our acquisition of these properties in high-growth industries located in key cities throughout the U.S. further strengthens the quality and market diversification of our portfolio. As we continue to keep a watchful eye on capital markets and successfully execute our mission critical acquisition strategy, we expect that our investments will yield positive results.”
About Carter Validus Mission Critical REIT II, Inc.:
Carter Validus Mission Critical REIT II, Inc. is a public, non-traded company headquartered in Tampa, Florida that has elected to be taxed and qualifies as a real estate investment trust for federal income tax purposes. Carter Validus Mission Critical REIT II, Inc. intends to continue to acquire mission critical real estate assets located throughout the United States and abroad. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants.
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 CV Mission Critical REIT II 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. CV Mission Critical REIT II undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in CV Mission Critical REIT II’s expectations.
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