CBRE’s Atlanta Capital Markets Debt and Structured Finance group secured a $51 million, 5-year CMBS loan for the acquisition of two single-tenant co-location data centers in McLean, Virginia, approximately 10 miles from Washington, D.C.  CBRE’s Jeff Ackemann, Jonathan Rice and Porter McDonald arranged the financing on behalf of Carter Validus Mission Critical REIT II Inc., a Tampa-based, public, non-traded real estate investment trust focused on healthcare and technology.  Wells Fargo executed the CMBS financing. 

Carter Validus acquired the two data centers, totaling 131,331 sq. ft., for $85 million. The first data center is a 69,329 sq. ft. facility that is leased to Level 3 Communications (S&P: Ba3), a publicly traded international communications company with one of the world's largest long-haul communications and optical internet backbones.  The second data center is a 62,002 sq. ft. co-location facility that is fully leased to Windstream (S&P: B+), which provides managed services and cloud computing solutions to business customers, and high-speed internet access, voice and video services primarily to retail consumers.

“The data centers are located in McLean, Virginia, the top data center market in the nation, in a data center corridor strategically located near the intersection of I-495 and St. Rd. 123.  Just 8 miles northwest of downtown Washington DC, the high concentration of government entities and Fortune 500 companies create a steady demand for data center capacity” said Jeff Ackemann, Executive Vice President for CBRE Debt & Structured Finance.

“We are extremely pleased with the execution provided by Wells Fargo on this financing and the facilitation of the process in placing the debt by CBRE.  We look forward to a continued partnership with both Wells Fargo and CBRE,” stated Todd Sakow, Chief Financial Officer of Carter Validus.