Sila Realty Trust completes $1.32 billion sale

Sila Realty Trust Inc. late last month completed the sale of its 29-property data center portfolio to a Singapore-based firm, a move that allowed the Tampa-based real estate investment trust to pay down debt and reward its shareholders.

Tampa-based Sila Realty, the former Carter Validus Mission Critical REIT II, used the $1.32 billion deal’s net proceeds to retire $854 million in debt, and the company’s board approved a special distribution of $1.75 per common share with the balance.