Newly-formed data center real estate investment trust DigiCo Infrastructure REIT has reportedly acquired two enterprise data centers in the US.

Commercial Observer reports the company has acquired a pair of data centers 100 percent leased to insurance company State Farm in Texas and Kansas for $248 million.

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State Farm's Richardson data center – KDC

Located at 1402 East Lookout Drive in Richardson, Texas, and 24400 West Valley Parkway in Olathe, Kansas. The sites are leased until August and November 2031, with three and five-year renewal options respectively.

Built by developer KDC for State Farm in 2015, the Richardson site totals 129,170 sq ft (12,000 sqm) on 15 acres. It offers 4.5MW, expandable to 13.5MW.

The Olathe facility totals 192,550 sq ft (17,890 sqm) on 20 acres. It offers 7.5MW, also expandable to 13.5MW, and was built in 2016 for the insurance firm.

The properties were sold by JDM III AZ LLC, with Newmark arranging the transaction. They were put up for sale last year as part of a five-building portfolio.

Neither HMC nor Newmark provided comment to Commercial Observer. DCD has reached out to both; HMC simply told us all authorized announcements would be made through the ASX.

After acquiring North American digital infrastructure investor StratCap in February 2024, Australian investment firm HMC Capital went on to acquire Global Switch’s Australian unit and Australian operator iseek for a total of $1.65 billion.

The company then launched and floated DigiCo Real Estate Investment Trust, a new company to hold its data center assets. The REIT manages 13 data centers serving 586 customers across the US, Canada, and Australia.

DigiCo recently said it had agreed to deals for the acquisition of three North American enterprise and hyperscale data centers for AU$2.29 billion ($1.5bn).

December saw DigiCo acquire a 32MW data center in Chicago, Illinois, developed by Prologis and Skybox. Terms were not disclosed.