Investment firm Harrison Street has sold two data center properties located in Maryland.

Announced this week by Harrison Street Asset Management (HSAM), the assets are two hyperscale powered shell data centers totaling more than 218,000 square feet (20,252 sqm) across approximately 95 acres just outside of Baltimore.

The sites, known as Emerson and Sandy Farms, have been developed to support cloud and computing contracts and are fully leased.

Full details weren’t shared, but CommercialSearch and Traded report they were sold to GI Partners for a combined $221.9 million. Capital One Bank provided a $113m acquisition loan, according to county property records.

The publications report that the sold properties were at 7665 Sandy Farm Road in Severn, Anne Arundel County, and a property at 9800 S. Eternal Rings Drive in Laurel, Prince George's County.

Update: GI Partners has since announced the acquisition of two data centers in Laurel and Severn, Maryland. The company said both sites are leased to a single user, but provided no further details.

“We are pleased to announce the successful sale of these two hyperscale powered shell data center campuses, which are fully leased,” said Michael Borchetta, co-head of the North America Transactions Group at Harrison Street Asset Management. “As data center spend and operationally intensive cloud demand continue to grow, assets serving the need for secure digital infrastructure are positioned to benefit from durable, long-term tailwinds.”

“Our acquisition of these properties reflects our conviction in the region, supported by durable demand from government, defense, and regulated cloud users,” added Mike Armstrong, managing director and head of real estate tech+science investments at GI Partners. “The portfolio’s strategic location positions it as a compelling opportunity to expand our data center footprint.”

HSAM acquired and broke ground on the Emerson and Sandy Farms projects in 2020, subject to pre-leasing with a hyperscale user, with Oppidan Connect serving as the lead developer. The campuses are designed to accommodate future expansion, with long-term development plans underway

Harrison Street is an alternative global investment management firm with more than $108 billion in assets under management across infrastructure, real estate, and credit strategies. Since 2018, HSAM said its digital investment platform has committed more than $6.5bn to powered shells, carrier hotels, colocation facilities, and dark fiber platforms.

Founded in 2001, GI has more than $47bn in assets under management. The company, which founded and then divested Digital Realty, owns stakes in a number of data centers and also owns US operators LightEdge and Flexential, as well as several connectivity providers.

GI said it has invested more than $8 billion across data centers and digital infrastructure investments to-date. The firm’s real estate and data infrastructure portfolio currently includes 78 data centers, it added.