PHOENIX—IO, a software-defined datacenter technology, services, and solutions company, announced a partnership with Carter Validus Mission Critical REIT, Inc. through which CVMC REIT acquired a 100% interest in the real estate containing the IO Phoenix and IO Scottsdale data centers. CVMC REIT immediately leased the data centers back to IO in a sale-leaseback transaction. The combined transaction was valued at $125 million.

This partnership provides both parties an opportunity to focus on their core competencies. IO will continue to deliver colocation and cloud services across its global data center footprint while CVMC REIT will own the real estate.

“This transaction is aligned with IO's long-term strategic plan,” says Anthony Wanger, president of IO. “Partnering with Carter Validus allows IO to concentrate its focus on what we do best: Operating world-class IO data centers for our customers.”