Investor IPI Buys Remaining Three Infomart Data Centers (FB)
Fund manager IPI Data Center Partners Management has acquired Infomart Data Centers properties in Hillsboro, Oregon (leased to LinkedIn); San Jose, California; and Ashburn, Virginia, from ASB Real Estate Investments. The three data centers were what was left of ASB’s data center assets after Equinix bought its massive Infomart Dallas building in February for $800 million. There’s been a lot of investor demand for data center assets recently, and properties have been changing hands at high multiples. Investment in North American data center assets last year totaled a record $20 billion, according to a recent market report by the commercial real estate firm CBRE. It’s a seller’s market, and ASB, which acquired assets in the portfolio that became Infomart Data Centers at various points over the course of the last 13 years, decided to take advantage of the opportunity.