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 Centers (SDC) by their new investor, Bouwinvest Real Estate Investors (Bouwinvest). Bouwinvest has invested into SDC through National acting as the investment manager, and this $60 million investment is part of the $270 million in capital raised in 2021 for SDC.
SDC 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 SDC’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 SDC 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 SDC’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 SDC in particular.”
Bert van den Hoek, Senior Portfolio Manager North American Investments at Bouwinvest, said: “Bouwinvest selected the $60 million SDC investment because of the shared institutional investor culture with National and the operational excellence, long track record and nationwide reach of SDC, 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 mega-trend 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 CENTERS
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 Centers (SDC). 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 3.5 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 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.
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.
