GI Partners buys five “Always On” properties in a first for its Core Plus ETS Fund

• GI Partners’ ETS Fund acquires and operates data centers, life sciences labs and “Always On” technical operations and research facilities
• The five properties are leased to many of the largest defense and government contracting companies in the US
• The ETS Fund has acquired 13 properties since launching in 2021 and is actively investing

San Francisco-headquartered GI Partners has announced on Wednesday the acquisition of five “Always On” properties on behalf of its Essential Tech and Science Fund, the ETS Fund. The properties are located in high-density Northern Virginia markets and are leased to many of the largest government and defense contracting companies in the US.

GI Partners has previously bought similar “Always On” assets – ones that house mission critical technology operations and non-biological R&D – in its Core real estate funds. These purchases represent the first “Always On” acquisitions in its ETS Fund, which is a Core Plus fund.

The properties which, represent 860,000 square feet, include divisional headquarters locations, and host operations and R&D for intelligence, satellite, cybersecurity, cloud, communication and other related purposes.

“We are proud to own these mission critical assets,” said John Sheputis, managing director of GI Partners and head of the ETS Fund. “These properties are located near the center of one of the biggest technical operations markets and communications clusters in North America and are leased to top government contractors who use these buildings and infrastructure to provide mission critical technology services and research. The continual operation of these properties during the recent pandemic demonstrates the physical value of this real estate to the U.S.’s national intelligence and defense agencies.”

The ETS Fund has acquired 13 properties since launching in 2021 and is actively investing.