StratCap Digital Infrastructure REIT has sold a portfolio of 48 US wireless cell towers for $55.1m (€46.8m) as it shifts its portfolio towards stabilised data centres.
The non-traded digital infrastructure real estate investment trust said the sale generated $38.5m in net cash proceeds after closing costs, adjustments and the repayment of debt associated with the assets.
StratCap Digital Infrastructure REIT said the disposal monetises a portion of its portfolio, helping the company to “accelerate its initiative to rebalance its portfolio toward other digital sectors, such as stabilised data centres, which management believes can provide attractive risk-adjusted returns”.
Michael Weidner, StratCap Digital Infrastructure REIT’s CFO and treasurer said: “We believe this transaction showcases our ability to successfully realise value for our stockholders by executing disciplined strategies across digital infrastructure assets.”
The currently retains exposure to a portfolio of approximately 150 wireless cell tower sites held through a joint venture.
Weidner added: “Our ultimate goal is to enhance the overall quality and resilience of StratCap Digital Infrastructure REIT’s portfolio while driving long-term growth and returns for stockholders.”
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