Carter Validus sheds portfolio for $750 million

Tampa-based Carter Validus Mission Critical REIT Inc. has sold a portfolio of 14 data center properties to a pair of Singapore-based real estate investment firms for $750 million, the company announced late last year.

The properties, which had a net book value of roughly $598 million as of Sept. 30, were purchased by Mapletree Investments Pte Ltd. and Mapletree Industrial Trust, a real estate investment trust.

Carter Validus did not identify which of its data center properties it sold. In all, Carter Validus owns 19 data center properties in a dozen states, according to the company's website.

John Carter, Carter Validus' CEO, says the company is “actively evaluating how to best deploy the proceeds” from the Mapletree acquisitions. It is considering paying shareholders a special distribution in the wake of the deal.