GI Partners has acquired Sterling, Virginia-based Cloud Plaza, a data center currently leased by a global tech firm. No financial terms were disclosed.
SAN FRANCISCO, CA, May 19, 2022 – 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 (“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.
About GI Partners
Founded in 2001, GI Partners is a private investment firm with over 125 employees and offices in San Francisco, New York, Chicago, Greenwich, and Scottsdale. The firm has raised over $33 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the healthcare, IT infrastructure, services, and software sectors. The real estate team focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.