Hines Global Sells KOMO Plaza Data Center For $276M
Hines Global REIT closed the sale of its KOMO Plaza data center facility, previously known as the Fisher Plaza, for $276M.
Hines grabbed the property in December 2011 for $160M. The multi-tenant facility is within an emerging submarket in Downtown Seattle and was purchased by GI TC Seattle LLC.
The property is a high-performing asset that has appreciated substantially, Hines Global CEO Sherri Schugart said in a statement, and the REIT chose now to capitalize on its investment. "Management and the board determined this to be an opportune time to lock in gains and maximize the return on our investment," Schugart said.