Allied Properties REIT is looking to sell its data center portfolio in Toronto. The company announced that it is exploring options for a sale of the portfolio. Allied REIT currently owns three data center facilities in downtown Toronto. The properties also include the 151 Front Street West carrier hotel, which is home to Cologix, Equinix, and Digital Realty.
Although Allied didn’t reveal its expected selling price, local reports suggest it wants around $1.3 billion for the data center portfolio. Allied had revenue of $47.74 million in the first nine months of the year, a 5.4% increase year-on-year.
The company said: “Allied regularly reviews and evaluates strategic opportunities that management believes may be in the best interests of Allied and its stakeholders. Allied has not entered into an agreement to complete any particular transaction in relation to its UDC portfolio, and there can be no assurance that current exploration will result in a decision to complete any transaction.”
