CHARLOTTE, N.C., April 7, 2021 /PRNewswire/ -- Flexential, a leading provider of data center, colocation, cloud and connectivity, today announced it has entered into a sale and leaseback transaction with Legacy Investing, LLC for the development of Flexential's Hillsboro 3 data center. The partnership will allow Flexential to continue to invest in its core data center operations while providing Legacy the opportunity to invest in and own the site, core and shell of the next Flexential flagship facility in Hillsboro.
The Hillsboro 3 data center will enhance Flexential's position as a leader in the growing Portland data center market, which has the second-highest growth rate in North America according to CBRE's North American Data Center Trends Report. The continued demand in this market has driven a significant need for data center space and services, and the Flexential and Legacy partnership will allow the parties to quickly deploy capital to efficiently bring the Hillsboro 3 project to market to meet this demand.
"We are proud to be partnering with Legacy Investing on our new, cutting edge Hillsboro data center," said Chris Downie, CEO, Flexential. "The completion of this facility will cement Flexential as a clear leader in this rapidly growing market, and the enthusiastic support of Legacy and its investment partner, Invesco Real Estate, a global real estate investment manager, speak to the value of the Flexential brand and its Hillsboro franchise."
"Flexential's already-dominant position in Hillsboro and the overwhelming demand for their offerings in this market made partnering with them a clear choice for us," said Jay Rappaport, CEO, Legacy Investing. "We are excited about the opportunity this partnership creates for both parties and look forward to seeing this ultramodern data center come to life."
Kristina Metzger, the leader of CBRE's Data Center Capital Markets. served as lead advisor to Flexential in the transaction and Paige Morgan of CBRE's Portland Office provided local support.
Flexential empowers the IT journey of the nation's most complex businesses by offering flexible and tailored hybrid IT solutions comprised of colocation, cloud, connectivity, data protection, managed, and professional services. The company builds on a platform of three million square feet of data center space in 20 highly connected markets, and on the FlexAnywhere™ 100GB private backbone to meet the most stringent challenges in security, compliance, and resiliency. See how Flexential goes beyond the four walls of the data center to empower IT through an interactive map found on www.flexential.com.
About Legacy Investing
Founded by seasoned technology company executives, Legacy focuses on mission-critical real estate being fundamentally impacted by new technologies: primarily digital and physical supply chains, future workplaces and life sciences. Legacy's principals have leveraged this platform, as well as their public company C-suite experience, across the past two decades to complete over $2.75 billion in transactions across 19 million square feet. Learn more at www.legacyinvesting.com.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $82.8 billion in real estate assets under management, 589 employees and 21 regional offices across the U.S., Europe and Asia (as of December 31, 2020). Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. www.invesco.com.
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