The properties will "initially be funded with borrowing under [Digital's] revolving credit facility," according to Digital's SEC filing. The properties that comprise the acquisition are 55 Middlesex Tpke. in Bedford, MA; 128 First Ave. in Needham, MA; and 60-80 Merritt Blvd. in Trumbull, CT. The property at 55 Middlesex and a 100% condominium interest make up the majority of the portfolio, clocking 87.5% of the purchased space. The portfolio is up to date for data center standards and is at 98% occupancy, as of Sept. 30, 2009.
The sellers were Sentinel Properties – Needham, LLC, SP – Needham I, LLC; Sentinel Properties – Bedford LLC; and Sentinel Properties – Trumbull, LLC. There are no plans by the San Francisco-based company to renovate the property, as per Digital's investor statement in the 8-K filing. Digital did not respond to GlobeSt.com inquiries by deadline.
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