A Singapore-based REIT is under contract to buy a massive portfolio of data centers in the U.S., including two in Metro Atlanta, for more than a billion dollars.

Tampa-based Sila Realty Trust is under contract to sell both 250 Williams St. in Downtown Atlanta and 11650 Great Oaks Way in Alpharetta, both part of a larger 29 data center portfolio, to Mapletree Industrial Trust for $1.32B, according to documents filed with the Securities and Exchange Commission. Sila, formerly Carter Validus Mission Critical REIT, is expected to close the sale by Dec. 15.

Mapletree didn't reveal how it valued each asset. Sila acquired the 997K SF 250 Williams St., formerly known as the American Cancer Society Building, in 2017 for $166M and the 165K SF 11650 Great Oaks Way data center in Alpharetta in 2015 for $56.7M. The entire portfolio encompasses 3.3M SF of net leasable data center space that has an occupancy rate of 87.8% with such tenants as InComm, Sungard, Evoque, BP and CyrusOne, according to a Mapletree presentation filed with the SEC.

Mapletree reported that 250 Williams has upside as a data center investment given half the building is used for other commercial uses, including office, and could be converted to data center use.