Sabey Corporation and National Real Estate Advisors, LLC Close $60M Investment from Bouwinvest
The $60 million investment is part of $270 million raised to date in 2021.
Seattle, WA / Washington, D.C. (April 19, 2021) - Sabey Corporation and National Real Estate Advisors, LLC (National) announce the closing of a $60 million investment in Sabey Data Center Properties LLC (SDCP) by their new investor, Bouwinvest Real Estate Investors (Bouwinvest). Bouwinvest has invested into SDCP through National acting as the investment manager, and this $60 million investment is part of the $270
million in capital raised in 2021 for SDCP.
SDCP is one of the largest and greenest privately held data center owner/developer/operators in the United States, as well as the sole data center ABS master trust platform with an S&P A+ credit rating. Funds from this closing will be used to capitalize on robust tenant demand for data center space by growing SDCP’s portfolio.
“The Sabey partnership with National has been key to our success in expanding our nationwide data center footprint and we are excited to begin a new relationship with Bouwinvest Real Estate Investors,” said Dave Sabey, Chairman & President, Sabey Corporation. “Demand for digital capacity will continue to increase, and SDCP is dedicated to meeting that demand.”
“We are very pleased that Bouwinvest Real Estate Investors—one of the world’s most respected investors—chose National to manage its inaugural investment in the U.S. data center sector,” stated Jeffrey Kanne, President and CEO of National Real Estate Advisors. “Bouwinvest’s commitment to environmental sustainability and responsible contracting align perfectly with National and SDCP’s pursuit of long-term, healthy returns in a responsible manner. This investment brings the capital raised in the 1st quarter to $270 million, underscoring National’s deep conviction in data center demand drivers in general and SDCP in particular.”
Bert van den Hoek, Senior Portfolio Manager North American Investments at Bouwinvest, said: “Bouwinvest selected the $60 million SDCP investment because of the shared institutional investor culture with National and the operational excellence, long track record and nationwide reach of SDCP, combined with the compelling nature of the deal in meeting our main strategic priorities in the U.S. market. The data centers portfolio links to the megatrend of the digitalisation of the economy and the growing importance of this emerging real estate asset class in the extension of the ‘core’ risk definition of income-producing properties. But the key deal clinching factor for us was that it is a more sustainable investment, with approximately 80% of the energy supply for the data center campuses in the portfolio coming from renewable hydro-power.”
ABOUT SABEY CORPORATION AND SABEY DATA CENTER PROPERTIES
Sabey Corporation is a fifty-year old privately held Seattle-based real estate development company specializing in mission critical and other technical space and the parent of Sabey Data Center Properties. With a portfolio of more than three million square feet of mission critical space, SDCP is one of the largest privately-owned multi-tenant data center owner/developer/operators in the United States. SDCP specializes in scalable, custom-built solutions including data center ready shell space and fully turnkey data centers managed by SDCP’s award-winning critical environment staff. Consistently recognized for low-cost hydroelectric power, operational excellence through its world-class data centers and sustained uptime, SDCP is proud to provide data center services to many of the world’s top financial, technology and healthcare companies.
ABOUT BOUWINVEST REAL ESTATE INVESTORS
Bouwinvest Real Estate Investors invests capital mainly for pension funds and insurers. We invest for the long term and manage a total € 13.4 billion in various property sectors. We aim to play a role in contributing to the city landscapes of the future and influencing their design. Our asset management contributes to sustainability, liveability and accessibility in the urban environment and the improvement of pension benefits in the retirement plans of our clients. In this way we create social and financial returns. In short: we create Real value for life. For more information, visit www.bouwinvest.com.
ABOUT NATIONAL REAL ESTATE ADVISORS, LLC
National Real Estate Advisors, LLC is an investment manager specializing in a build-to-core strategy, developing and managing large-scale, urban commercial and multifamily projects for its institutional client accounts. National constructs investment portfolios of modern property assets—apartment, office, mixed use, industrial (including data centers), and hotel—with design features, technological enhancements, and amenities that drive high tenant demand and can create value for investors. National is an independently operated subsidiary of the National Electrical Benefit Fund (“NEBF”), a substantial pension trust with a significant amount of assets that are managed by National on a discretionary basis. For more information, please visit www.natadvisors.com.