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GI Partners Acquires Two Baltimore-Area Data Centers From Harrison Street For $221.9M
SOLD
$221,900,000
Maryland
See Similar DealsSpecial Purpose
Sold 02/24/2026
SOLD
GI Partners Acquires Two Baltimore-Area Data Centers From Harrison Street For $221.9M
7665 Sandy Farm Road
See Similar DealsSpecial Purpose
Sold 02/24/2026
Summary
MARYLAND
Asset Type:Special Purpose
Transaction Type:Sale
The transaction involves a special purpose asset located at 7665 Sandy Farm Road in Severn, MD. GI Partners purchased the property for $221,900,000. The purchase includes two Baltimore-area data centers, specifically Sandy Farms in Severn and Eternal Rings in Laurel. The transaction was supported by a $113.4 million acquisition loan from Capital One Bank.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $221,900,000
- Buyer: Rick Magnuson - GI Partners
- Seller: Harrison Street
- Loan Amount: $113,400,000
GI Partners' acquisition marks a significant investment in the data center market, facilitated by the strategic sale from Harrison Street. The deal reflects a collaborative effort between both companies in the real estate investment sector.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$11,834,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$788,363.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,051,919.21
Annual Debt Service$12,623,030.50
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