Carter Validus Mission Critical REIT II, Inc. (“the Company”), announced
today that it recently made two acquisitions consisting of a Silicon
Valley data center and a specialty hospital for an aggregate purchase
price of $64.47 million.
San Jose Data Center
On June 13, 2018, the Company acquired the San Jose Data Center
comprised of enterprise and colocation space located in San Jose,
California, for a contract purchase price of $49.15 million, excluding
acquisition fees and costs.
Built in 1999 and renovated in 2005, the San Jose Data Center consists
of 76,410 rentable square feet situated on 4.22 acres. The facility is
100% leased to a leading telecommunications company with a remaining
lease term of 7.22 years. The two-story building is constructed of
concrete and steel frame with aluminum and glass accents supported by
cooling infrastructure and high efficiency utility and clean-power
sources. San Jose is in the heart of Silicon Valley, the second largest
data center market in the U.S.
Michael A. Seton, Chief Executive Officer and President of the Company,
commented, “This acquisition underscores the expansion of our data
center footprint making this our fifth data center acquisition in
California, and further expanding our presence in Silicon Valley.”
Oceans Katy Behavioral Health Hospital
On June 8, 2018, the Company acquired the Oceans Katy Behavioral Health
Hospital in Katy, Texas, for a contract purchase price of $15.32
million, excluding acquisition fees and costs. Oceans Katy Behavioral
Health Hospital is a purpose-built, 34,296 square-foot, single-tenant
hospital situated on 4.6 acres. Constructed in 2015 of steel and
concrete frame, the building features exterior brick and aluminum
accents; with 69 spaces for surface parking. Katy is located
approximately 29 miles west of Houston in the fifth largest Metropolitan
Statistical Area in the U.S.
The facility is 100% leased to Oceans Behavioral Hospital of Katy, LLC,
with a remaining lease term of 11.9 years. Oceans Behavioral Hospital of
Katy, LLC provides tailored in-patient and out-patient services
addressing the behavioral health needs of older adults and seniors,
including mental health education and individual group therapies,
psych-evaluations, and medication management.
Mr. Seton added, “As we continue to grow and diversify our data center
and healthcare portfolios, the San Jose Data Center and Oceans Katy
Behavioral Health Hospital will allow us to leverage our existing
management and operating synergies across our data center and healthcare
About Carter Validus Mission Critical REIT II, Inc.:
Carter Validus Mission Critical REIT II, Inc. is a public, non-traded
corporation headquartered in Tampa, Florida that has elected to be
taxed, and believes it qualifies, as a real estate investment trust.
Carter Validus Mission Critical REIT II, Inc. intends to continue to
acquire mission critical real estate assets located throughout the
United States and abroad. Mission critical real estate assets are
purpose-built facilities designed to support the most essential
operations of tenants. Carter Validus Mission Critical REIT II, Inc.,
intends to continue to focus its acquisitions on mission critical assets
in the data center and healthcare property sectors. See www.cvmissioncriticalreit2.com
for more information.
This press release contains forward-looking statements within the
meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,”
“should,” “will” and other similar terms and phrases, including
references to assumptions and forecasts of future results.
Forward-looking statements are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors that
may cause the actual results to differ materially from those anticipated
at the time the forward-looking statements are made. Although CV Mission
Critical REIT II believes the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can
give no assurance that the expectations will be attained or that any
deviation will not be material. CV Mission Critical REIT II undertakes
no obligation to update any forward-looking statement contained herein
to conform the statement to actual results or changes in CV Mission
Critical REIT II’s expectations.
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