February 14, 2018

ASB Agrees to Sell Infomart Dallas to Equinix for $800 Million

WASHINGTON, DC – ASB Real Estate Investments (ASB) announced today a definitive agreement to sell Infomart Dallas, the iconic 1.6 million-gross-square-foot data center and office complex, to Equinix, Inc., the global interconnection and data center company, for $800 million. The transaction consideration will consist of cash and debt securities, which will be paid out to ASB over a 36-month period following closing.

ASB agreed to execute the transaction on behalf of its Allegiance Fund, a $7.4 billion core real estate investment vehicle. The sale is targeted to close during the second quarter of 2018. ASB Real Estate Investments was advised by DH Capital, as its exclusive financial advisor, and DLA Piper LLP, as legal advisor on the transaction.

An early institutional investor in data center properties, ASB purchased Infomart Dallas in 2005, expanding its capacity to 110 carriers with major tenants that include Equinix, Bank of America and Verizon.

Robert Bellinger, ASB Real Estate Investments’ President and CEO, said: “ASB has benefited from significant value creation over the term of our investment, and we saw the opportunity to realize gains for our investors, while rebalancing our diversified real estate portfolio in line with allocation targets. The structured payout of Infomart Dallas allows for an orderly redeployment of capital, maintains a stake in data center investments for at least three years, and aligns us with Equinix, the leading industry operator.”

About ASB Real Estate Investments
ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm with $7.7 billion* in gross assets under management for over 340 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real Estate Fund, its sole vehicle for core investing; the ASB Meridian Real Estate Funds, a series of low-leverage value creation vehicles; and a development separate account.

*as of December 31, 2017

The information provided in the release does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities.