Singapore-based Mapletree Investments has closed on a $750M data center portfolio deal.

The portfolio, purchased from Carter Validus Mission Critical REIT, spans nine states in the U.S., including California, Georgia, Michigan, New Jersey, North Carolina, Pennsylvania, Tennessee, Texas and Wisconsin, and is comprised of 14 properties. As of Sept. 30, the aggregate net book value of the portfolio was estimated to be $598M, Connect Commercial Real Estate reports.

The properties total 2.3M SF and are 97.4% occupied with remaining lease terms averaging 6.7 years.

“We are pleased with the completion of this sale of the portfolio to Mapletree, which we strategically assembled over a period of years through on- and off- market acquisitions, and represents a notable gain for the company. We enjoyed the professionalism demonstrated by Mapletree throughout the transaction, and look forward to a continuing relationship with Mapletree,” Carter Validus President Michael A. Seton said in a statement.

The transaction was initially announced in October and marked the first data center venture undertaken by Mapletree outside of Singapore. 

The sale has since allowed Carter Validus to pay off an estimated $170M in property and company-level principal debt.