GI Partners has acquired a Montreal suburb-based data center from Ericsson. No financial terms were disclosed.
SAN FRANCISCO, Jan. 9, 2018 /PRNewswire/ — GI Partners, a leading private investment firm, today announced that it has completed the acquisition of the Ericsson ICT Data Center located at 3500 Rue F.-X.-Tessier in the Vaudreuil-Dorion suburb of Montreal, Quebec. GI acquired the data center from Ericsson (NASDAQ: ERIC).
The property, completed in December 2016, comprises 215,000 square feet of market-ready turnkey data center and shell space to accommodate growth and expansion. GI Partners acquired the property directly from Ericsson, who will lease back a portion of the facility’s critical power and space on a short term basis for development of its cloud-based technologies.
“Montreal is a dynamic data center market, due to its access to cost effective hydroelectric power that is attractive for scale and hyperscale deployments,” commented Mike Armstrong, Director of GI Partners and co-head of acquisitions for GI’s technology real estate investment programs. “The property is a world class highly secure data center that will provide users the opportunity to establish in market immediately with significant expansion potential under the same roof.”
The property was built with flexible, robust infrastructure and is N+1 (or better) across critical systems. The facility currently has approximately 11 megawatts of critical, redundant power (turnkey) with space and power available for lease immediately. The property was designed to expand to more than 50 megawatts of primary power.
This building adds to the data center portfolio owned and managed by GI Partners, which now totals 21 properties comprising 5.2 million square feet across 13 different leading data center markets.
About GI Partners
GI Partners is a leading private investment firm based in San Francisco, California. The firm has raised over $16 billion in capital through private equity and real estate strategies from recognized institutional investors across the world. GI Partners’ real estate team invests across a number of property types and investment strategies, including platforms focused on logistics-based warehouse and distribution facilities, transit-oriented multifamily development, and technology-advantaged properties. For more information on GI Partners, please visit www.gipartners.com.