With the sale of a 29-property data center portfolio, Sila Realty Trust is exiting the data center space to focus on healthcare.
Sila sold 29 data center properties to Mapletree Industrial Trust, a REIT listed on the Singapore Exchange, for $1.3 billion. The transaction will be completed in one or more closings during Q3 2021.
"This action marks another key step in Sila Realty Trust's evolution to provide a clear path for the company to pursue a strategy as a pure-play healthcare REIT," said Michael A. Seton, Sila CEO and president in a prepared statement.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
