IBM Cloud: BentallGreenOak completes the acquisition of two Canadian IBM data centers in sale-leaseback deals

Sep 28, 2021 | Posted by Abdul-Rahman Oladimeji

A Canadian property manager called BentallGreenOak has acquired two IBM data centers in Canada in sale-leaseback transactions. BGO announced that it bought the two facilities. One of the facilities it acquired is in Montreal, while the other is in Markham. The facility in Montreal is at 275 Viger Avenue East. It is also a five-story building with 199,000 square feet of space on 1.4 acres of land. In addition, it has 16MW of power. On the other hand, the Markham facility is located at 100 Gough Road. It currently has 111,840 square feet of space. Besides, the facility is also going through a $20 million upgrade.

Furthermore, BGO has leased back the facilities back to IBM. Although BGO didn’t reveal the terms of the deal, a spokesman of the company said the figure is around the eight-figure mark. He also said the leaseback is a short-term one. BGO already has a rich portfolio of property funds as it now has the two data centers as part of its $6-billion Prime Canadian Property Fund.