Sell Your Majority Interest in Two Elk Grove Data Centers with Digital Realty

Sell Your Majority Interest in Two Elk Grove Data Centers with Digital Realty

Digital Realty Trust, an Austin-based REIT, is selling the majority interest in two neighboring data centers located in Elk Grove Village, IL to GI Partners, a San Francisco-based private equity firm. The deal is being financed with $450 million in debt and has been reported by Crain’s Chicago Business as one of the biggest local tech real estate deals seen for years.

It remains unclear how large a stake GI Partners are buying or what they are paying for it; however Crain’s reported that based on current lending standards this transaction could value both properties at more than $700 million.

Chicago currently stands as Digital Realty’s second largest market after Northern Virginia with 10 properties accounting for 8.4% of its total annualized rent according to their 2022 annual report filing; having invested over $2.4 billion into their portfolio which encompasses 3.4 million square feet across these locations combined .

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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