GI Partners, a leading private investment firm, continues its strategy of acquiring and managing technology enabled real estate by announcing the acquisition of 22262 Cloud Plaza in Sterling, VA, a highly networked and energy efficient data center currently leased by a global technology firm.
Cloud Plaza represents a highly improved hyperscale data center facility located in the largest data center market in the U.S. Originally delivered and fully commissioned in 2019, this 238,000 SF property serves as a key network location and offers over 46 MW of critical power in an energy efficient design, meeting the existing tenant’s stringent quality requirements.
John Sheputis, Managing Director at GI Partners and Head of Acquisitions for GI Partners Real Estate, said, “We are excited and proud to own one of the most densely networked data centers in Northern Virginia, the nexus of the world’s internet traffic. We are seeing increased net absorption for data center capacity broadly, and users placing premium value on locating at network-differentiated assets like Cloud Plaza. We believe that the addition of this fortress-like asset to our data center portfolio will reduce our overall risk while providing accretive returns over the long-term.”
The seller, Sentinel Data Centers, will retain a minority interest in the ownership of the property. “The GI Partners Real Estate team has been great to work with and a real class act,” said Josh Rabina, Co-CEO of Sentinel Data Centers. “We are thrilled to be investing alongside GI Partners and continuing our involvement with this amazing asset.”
CBRE Data Center Capital Markets represented the seller on this transaction.
The technology and life sciences real estate portfolio managed by GI Partners Real Estate totals 37 properties comprising 8.1 million square feet across 12 different leading markets.