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Carter Validus continues buying spree

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  • | 11:00 a.m. October 28, 2016
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  • Commercial Real Estate
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With a deal to acquire a California data center operated by AT&T, Carter Validus Mission Critical REIT II has pushed its total 2016 purchases above $350 million, records show.

The Tampa-based real estate investment trust, which specializes in medical office buildings, health care facilities and other “critical” buildings, bought the Hawthorne, Calif., building last month for $79.5 million.

Including the acquisition, Carter Validus has purchased 16 properties this year in eight states, for a total of $356.5 million, its website indicates.

Michael Seton, the company's president, says the deal “represents an opportunity to invest in a mission critical property with a strong brand affiliation.”

AT&T Corp. fully occupies the 288,000-square-foot property, built on nearly 16 acres, and will remain a tenant going forward. The single-story building includes on-site power generation, which is critical for data facilities.

The deal marks the latest in a series of data center acquisitions by the public, non-traded REIT, according to its website. The company has also purchased data-oriented properties in New Jersey, Tennessee, Georgia, Michigan, Texas, Minnesota and Indiana.

By comparison, the REIT bought $424 million worth of property in 2015, its website states. In all, Carter Validus owns roughly three dozen properties.


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