Legacy Investing And Invesco Real Estate Expand Data Center Portfolio With Sale-Leaseback Of Flexential’s Plano, Texas Facility And Hillsboro 3 Data Center In Portland |
PLANO, Texas and PORTLAND, Ore. and ARLINGTON, Virginia, August 5, 2021 / PRNewswire / – Legacy Investing, a commercial real estate investment firm focused on technology-driven real estate, today announced the completion of its second sale-leaseback transaction with Flexential Corp in a joint venture with Invesco Real Estate, a leading global real estate investment management firm ., a leading provider of colocation, cloud and connectivity services for data centers, for its 18 MW data center in Plano, Texas. This follows the recent sale-leaseback for the construction of Flexentials Hillsboro 3 data center outside Portlandwho completed Legacy and Invesco in April.
“These acquisitions are part of Legacy’s broader focus on partnering with data center operators that will enable them to monetize their real estate-related assets, including financing construction, so they can focus their capital on operations, thereby maximizing their returns,” said Legacy Investing CEO and Co-Founder Jay Rappaport.
“We are excited to expand our data center presence into a new market for Invesco Real Estate. Our continued collaboration with Legacy and Flexential is representative of our growing commitment to the data center sector. We look forward to building these important relationships into the future,” said Joshua Siegel, Managing Director, Transactions, Invesco Real Estate.
“We are excited to partner with Legacy Investing and Invesco Real Estate on another transaction,” said Chris Downie, CEO of Flexential. “These transactions allow Flexential to continue investing in the 38 highly networked data centers contained in our platform for hybrid IT infrastructure solutions. Most importantly, this partnership enables us to expand even faster to meet accelerated customer demand in hyper-growth markets. “Added to our 19-store portfolio.”
That Plano The data center is a state-of-the-art, Tier III certified facility that is expanding 130,000 square feet to over 260,000 square feet with a capacity of up to 18 MW.
The previous Flexential Hillsboro 3 transaction enabled Flexential to acquire its Hillsboro Campus by an additional 358,000 square feet and 36 MW with direct interconnection to multiple trans-Pacific undersea cables, a critical US point of presence accessible through the Flexential Hillsboro data center campus.
The acquisitions are in line with Legacy’s broader strategy as a capital partner for mission-critical assets in the industrial and life sciences sectors. Legacy also recently completed transactions for tenant facilities such as Baxter International, Sanofi, Select Comfort, Cogent, IQVIA, PNC Bank and others.
About Legacy Investing, LLC
Headquarters in Northern Virginia Founded by seasoned executives from technology companies, Legacy Investing focuses on business-critical real estate affected by new technology: digital and physical supply chains, future jobs, and life sciences.
Legacy leaders have used this platform and its C-level experience with publicly traded companies over the past two decades to do more than $ 2.75 billion for transactions in data centers, e-commerce distribution centers, cold stores, modern office buildings and life sciences facilities on an area of 19 million square meters on behalf of selected family offices and institutional investors. Legacy uses its expertise in the impact of technology on tenant demand, location selection and rental to target and position properties to meet those needs and create long-term property value. More information is available at www.LegacyInvesting.com.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $ 83.2 billion in real estate assets under management, 588 employees and 21 regional offices in the United States, Europe and Asia (away March 31, 2021). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect wholly-owned subsidiary of Invesco Ltd. Invesco Ltd Independent investment management firm dedicated to delivering an investment experience that helps people get more out of their lives. NYSE: IVZ; www.investsco.com.
Flexential supports the IT journey of the most complex companies in the country by offering flexible and tailor-made hybrid IT solutions that include colocation, cloud, connectivity, data protection, managed and professional services. The company is built on a platform of 3 million square feet of data center space in 19 highly connected markets and on the FlexAnywhere ™ 100 GB private backbone to meet the toughest security, compliance and resilience challenges. See an interactive map at www.flexential.com as Flexential goes beyond the four walls of the data center to empower IT.
Flexential is a registered trademark of Flexential Corp. Follow Flexential on LinkedIn, Twitter and Facebook.
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SOURCE Legacy Investing, LLC