Sabey Corp and National Real Estate Advisors Close $150M Investment from Manulife Investment Management

Funds will be used to grow data center portfolio and capitalize on demand for data center space

Seattle, WA / Washington, D.C. (February 11, 2021) – Sabey Corporation and National Real Estate Advisors, LLC (National) announced the closing of a $150 million investment in Sabey Data Center Properties LLC by their new strategic partner, Manulife Investment Management. Manulife Investment Management’s commitment was funded from the John Hancock Life Insurance Company (U.S.A.) balance sheet as well as third party managed accounts.

Sabey Data Centers (SDC) is one of the largest and “greenest” privately held data center 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 grow SDC’s data center portfolio and capitalize on robust tenant demand for data center space.

“The Sabey partnership with National Real Estate Advisors has been key to our success in expanding our nationwide data center footprint and we are pleased to welcome Manulife Investment Management as a new strategic partner,” said Dave Sabey, Chairman & President of Sabey Corporation. “Demand for digital capacity will continue to increase, and Sabey Data Centers is dedicated to meeting that demand.”

“The past year saw some major shifts in the commercial real estate market, but the data center market remained strong,” stated Jeffrey Kanne, President and CEO of National Real Estate Advisors. “We look forward to investing this capital which underscores our commitment to the data center market and its continued growth.”

For more information about National’s investment strategy, please visit natadvisors.com.

About Sabey Data Centers

Sabey Data Centers (SDC) provides many of the world’s foremost enterprises with data center infrastructure, which includes colocation data centers, powered shells, and build-to-suit data centers. Their award winning critical environment staff supports the continuous IT operations of organizations in a variety of verticals; including finance, technology, media, government, and healthcare. As one of the largest privately-held data center providers in the United States, SDC currently owns and operates more than 3 million square feet of mission critical space, supported by more than 205 MW — with additional growth underway. SDC focuses on providing its customers with cost savings by utilizing cooling innovations and renewable energy sources, peak levels of sustained uptime, and superior connectivity options.

About Manulife Investment Management

Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. 

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About National Real Estate Advisors

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.

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