Tampa REIT sells data centers for $1.3 billion

Sila Realty Trust has agreed to sell up to 29 data center properties to a Singapore-based company for $1.32 billion

By Business Observer Staff
| 3:46 p.m. May 20, 2021
| 2 Free Articles Remaining!

Courtesy. Michael A. Seton is the president and CEO of Sila Realty Trust.

Tampa Bay-Lakeland

TAMPA — Sila Realty Trust Inc. has agreed to sell up to 29 data center properties to a Singapore-based company for $1.32 billion.

The properties were sold to Mapletree Industrial Trust, a REIT listed on the Singapore Exchange

The sale is expected to close in the third quarter.

Sila is Tampa-based real estate investment trust company that own 134 properties, including the 29 data centers and 124 health care properties in 70 U.S. markets.

The company’s net operating income was $58.8 million in 2020.

Michael A. Seton, CEO and president of Sila, said the sale of the properties gives the Tampa-based real estate investment firm “a clear path for the company to pursue a strategy as a pure-play healthcare REIT.”

“Upon closing this transaction, we will continue to be focused on enhancing the value of our company through internal and external growth opportunities,” he said in a statement.