Mapletree Industrial Trust, a Singapore-based REIT with roughly $6.5 billion in assets under management, has engaged JLL to sell a 22-building, 3.1 million square foot U.S. data center portfolio spanning 15 states. The REIT is accepting offers for the entire portfolio in a single transaction or for individual assets; major tenants include HP, Equinix, Bank of America, and Vanderbilt University, with most properties fully leased on a triple-net basis and a weighted average lease term of 6.8 years. The portfolio represents roughly 40 percent of Mapletree's 54 North American data center assets, and the company described the move as part of a strategy of targeted divestments and disciplined reinvestment. July data center sales volume reached $33.8 billion, up 1,911 percent from the prior year, with data centers accounting for 45 percent of the $74.4 billion in total July sales volume across all asset classes, according to MSCI.
A single-transaction listing of 22 data centers across 15 states is one of the largest portfolio divestitures in the sector and reflects surging investor appetite for stabilized data center assets. The sale comes as completed properties increasingly attract buyers seeking in-place operating income, signaling a maturation of the data center investment market that could set pricing benchmarks for future transactions.
A major Singapore REIT planning to sell a large stake in its US data center portfolio signals notable capital reallocation in the US colo market and is newsworthy for its scale and cross-border market implications. No similar article covering this event was reviewed.