Sila Realty Trust to sell $1.3 bn portfolio to Mapletree

The US investment REIT Sila Realty Trust (SRT) has confirmed it is to sell its 29 data centres to Singaporean fund Mapletree Investment Trust for up to US $1.32 billion. The transaction is subject to final price adjustments prior to completion of the sale which is expected to close in Q3 2021.

SRT, which was previously known as Cater Validas, is divesting its data centre assets as part of a strategic move to focus exclusively on investing in healthcare.

Mapletree, by comparison, is doubling down on its data centre investment strategy. In February, the company acquired a parcel of land for data centre development in Hong Kong for HK $813 million (US $105 million). One month later it paid US $208 million to acquire the Bank of America’s data centre in Richmond, Virginia. In 2020 Mapletree acquired 10 powered shell data centres from Digital Realty for US $557 million and a further investment of $811 million for a JV with the same company for the development of new hyperscale facilities.

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