Carter Funds has acquired a data center outside Memphis, Tennessee.
Aphorio Carter Fund Management Company, the critical infrastructure and data center division of Carter Funds, this week said that it has acquired a fully leased enterprise data center property in Collierville for approximately $13 million.
Carter said the property, located on the 118-acre FedEx World Technology Center Campus, is 100 percent net leased to a “globally recognized logistics powerhouse company.”
Built in 2001 and spanning 4.62 acres, the facility features more than 86,000 square feet (7,990 sqm) of space, including 41,000 sq ft (3,800 sqm) of raised floor space.
"We are enthusiastic to incorporate this property into our portfolio, offering strategic opportunities as nationwide demand for data centers continues to grow," said John Regan, chief investment officer of Aphorio Carter.
"In the first half of 2023, CBRE reported that vacancy rates for North American data centers stayed exceptionally low, hovering around a historic record of 3.3 percent. AI technology and the digital landscape, supported by data centers, continues to evolve at a remarkable pace."
The acquisition is the fifth data center purchase for Aphorio Carter, which describes itself as an investment management company focused on acquiring digital and mission-critical infrastructure including data centers, switch sites, and technology-related real estate throughout the US. The company is part of the Carter Funds group, which previously included major data center investor Carter Validus.
Another Carter group company, AC DataCom Digital Infrastructure Investment, secured $43.8 million in financing earlier this year against a data center in Virginia, reportedly to fund further infrastructure investments.