4-27-18

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Follows recent agreement to sell Infomart Dallas for $800M to Equinix ASBReal Estate Investments sells three remaining data centers to IPI Partners

ISSUE HIGHLIGHTS Volume 30, Issue 8 April 27 - May 10, 2018

W $800 million agreement to sell Infomart D a l l a s t o Equinix, ASB Real Estate Investments ( ASB ) an - n o un c e d a s e p a r a t e

mid-year 2018. Robert Bellinger , ASB Real Estate Investments’ presi- dent and CEO, said: “Our data center investments proved extremely timely and profit- able for our fund clients. As the market for data centers has expanded and investor demand has increased, we strategically decided to capture a singular disposition opportunity to lock- in gains and have been able to negotiate two significant transactions contemporane- ously. Going forward, we will retain a stake in the data center sector for the next three years through the Equinix debt securities and will have the opportunity to rebalance and further strengthen our diversi- fied real estate portfolio.” ASBwas advised by DHCap- ital , as its financial advisor, and DLA Piper LLP, as legal advisor on the transaction. n largest retail development in downtown Philadelphia, encompassing 840,000 s/f of shopping, food and entertain- ment destinations including an eight-screen AMC The- atre, Century 21, and the largest H&M in Philadelphia. The property also provides direct access to SEPTA’s Jef- ferson Station, and is within walking distance to Reading Terminal Market and the Pennsylvania Convention Center. Confirmed East Market retail tenants include an Iron Hill Brewery & Restau- rant, City Fitness, Columbia Sportswear, T.J. Maxx/Home Goods, and Federal Donuts. The mixed-use project will also include 175,000 s/f of of- fice space, and 322 residential units. Thor Equities owns proper- ties in major cities through- out the United States includ- ing New York, Washington, D.C., Miami, Chicago, Hous- ton, San Francisco and Los Angeles, as well as in Europe, Canada and Latin America. n

a s h i n g t o n , DC — Following on its announced

SPO TLIGHTS

Spring Preview 5-21A

Robert Bellinger

transaction, the completed all- cash sale of its three remaining data centers and their opera- tions to an affiliate of IPI Data Center Partners Management, LLC (IPI Partners). The three assets total 665,000 s/f of space and are located in San Jose, CA; Hillsboro, OR; and Ashburn, VA. ASB agreed to the sale on behalf of its Allegiance Fund , a $7.4 billion core real estate investment vehicle. An early institutional investor

Infomart Dallas

in data center properties, ASB purchased Infomart Dallas in 2005, expanding its capacity to 110 carriers with major tenants. The company added to its data center portfolio in three separate acquisitions: Infomart Silicon Valley in 2008; Infomart Port- land, located in Hillsboro, OR, in 2011; and Infomart Ashburn, located in Ashburn, VA, in 2014. Last month ASB announced

a definitive agreement to sell Infomart Dallas, the 1.6 mil- lion s/f data center and office complex, to Equinix, the global interconnection and data cen- ter company, for $800 million. The transaction consideration will consist of cash and debt securities, which will be paid out to the Allegiance Fund over a 36-month period following closing, which is expected by

Section C

MAREJ Events May 29, 2018 Delaware CRE Forecast Conference

Thor Equities acquires first property in Philadelphia totaling 214,000 s/f for $41.8M

May 30, 2018 PA Multifamily Conference

Philadelphia, PA — Thor Equities , a global leader in urban real estate de-

June 7, 2018 NJ Land Development Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea.christman@marejournal.com

velopment, leasing and m a n a g e - men t , ha s closed on the acquisition of a three- story office c o nd omi n - ium at 907

Joseph Sitt