Strategic Expansion in the Resilient Data Centre Segment
Overview of Acquisition
Acquisition
Address
Tenant
Land Area
Net Lettable Area
mapletree
industrial
Acquisition of a data centre and office located in the State of Virginia (the "Property"), the
United States of America (the "United States" or "U.S.")
8011 Villa Park Drive, Richmond, Virginia
Multinational company with strong credit standing (the "New Tenant")
About 2.0 million sq ft
About 700,000 sq ft
"
•
Lease Term
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Fully leased on a triple net basis with balance lease term of more than five years
Initial lease term expiring on 10 Jun 2022 with three 5-year renewal options¹
Zero base rent from 13 Mar 2021 to 10 Jun 2022
"
Rent to commence after 10 Jun 2022
Purchase
Consideration²
Completed
3
3
US$207.8 million (approximately S$282.6 million³)
12 Mar 2021 (Eastern Standard Time)
1 The New Tenant has renewed the first of three additional terms of five years (the "First Renewal Term").
2
Refers to the Purchase Consideration payable upon completion of the Acquisition after taking into account the upfront discount of US$16.9 million
(approximately S$23.0 million) (the "Upfront Discount"). In the absence of rental income from the Property from 13 Mar 2021 to 10 Jun 2022, the
Vendor will provide the Upfront Discount on the Purchase Consideration based on the lower end of the range of the extension term base rent to be paid by
the New Tenant.
Unless otherwise stated, an illustrative exchange rate of US$1.00 to S$1.36 is used in this presentation.View entire presentation