Tier III Data Center Property Purchased by DataCore
SAN FRANCISCO, CA, August 10, 2015 – GI Partners today announced that it has completed the acquisition of 10828 NW Airworld Drive located in Kansas City, Missouri. The acquisition was made through DataCore, L.P. (“DataCore”), a $500 million fully discretionary core real estate fund managed by GI Partners.
10828 NW Airworld Drive is a data center facility comprised of 78,000 square feet developed in 1982 and renovated in 2009, 2012 and 2015. The property is located southeast adjacent to the Kansas City International Airport. The property is fully leased on a long-term basis by a respected cloud and managed services provider.
“We are pleased to own Airworld Drive and form a long term relationship with the tenant, Datapipe, Inc.,” commented Mike Armstrong, Principal of GI Partners. “The facility’s robust infrastructure, connectivity, and location make it an attractive addition to the DataCore portfolio. We believe that Kansas City is a compelling and growing data center market and are excited to complete our first acquisition in the MSA.”
The California State Teachers’ Retirement System (“CalSTRS”) created DataCore in 2012 as a core investment vehicle to invest in technology-advantaged real estate in the U.S., including data centers, internet gateways, corporate campuses for technology tenants and life science properties located in primary MSAs and leased to industry leading tenants. Since inception, DataCore has acquired approximately 1.3 million square feet of mission critical data center properties throughout the United States.
The California State Teachers’ Retirement System, with a portfolio valued at $191.4 billion as of June 30, 2015, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans, as well as disability and survivor benefits. CalSTRS has served California's public school educators and their families, who today number nearly 880,000 from the state’s 1,700 school districts, county offices of education and community college districts.
About GI Partners
Founded in 2001, GI Partners is a leading private investment firm based in San Francisco. The firm currently manages over $12 billion in capital commitments through private equity and real estate strategies for recognized institutional investors, including some of the largest state and sovereign pension funds globally. GI Partners’ real estate team invests across a number of property types and investment strategies, across multiple property types and investment strategies, including data centers, corporate campuses, industrial buildings, multifamily residential, and senior living facilities. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.