Netrality Properties, owner and operator of network-neutral carrier hotels and colocation facilities, has announced the acquisition of two fiber-rich, network-dense properties from Digital Realty, located in St. Louis, Missouri: 210 N. Tucker – a 400,000-square-foot building, and 900 Walnut – a 100,000-square-foot building. Additionally, the company has acquired a colocation business located within 210 N. Tucker from 365 Data Centers.
The data center buildings would serve as a gateway to long haul fiber in the region. Each data center facility offers carrier-neutral, building-owned and managed Meet-Me Rooms (MMRs). 210 N. Tucker and 900 Walnut offer customers access to over 43+ and 45+ network operators, respectively. The facilities also provide data center operations with robust power and HVAC infrastructure. Netrality Properties plans to integrate the operations of the two buildings along with the 365 Data Centers business under common management.
“The acquisition of this portfolio enhances Netrality’s growing national footprint,” said Gerald M. Marshall, President and Chief Executive Officer (CEO) of Netrality Properties. “St. Louis is a key interconnection point for carriers, service providers and enterprise customers in the region. It was a pleasure working with Mike Darragh and the entire Digital Realty team on this transaction, and we look forward to building on their tremendous legacy in St. Louis.”
CitiBank provided debt financing on the acquisition while Ropes & Gray LLP was Netrality‘s legal counsel on the acquisitions. Michael Hochanadel, Managing Director with JLL Capital Markets, represented Digital Realty on the transaction.
“We appreciate the opportunity we have had to work with Netrality on their strategic acquisition of these St. Louis data centers,” said Scott Peterson, Chief Investment Officer of Digital Realty. “We also thank our operations team in St. Louis as well as the acquisitions team, who worked seamlessly with Netrality to facilitate the transaction and deliver on our capital recycling commitments.”