Equinix Buys Infomart Dallas for $800 Million
Equinix Is Kicking Off 2018 With A Big Acquisition In Dallas
Equinix (NASDAQ: EQIX) is acquiring Infomart Dallas from ASB Real Estate Investments for $800 million. The Infomart Dallas building is nearly 1.6 million square feet and home to over 45 tenants including Equinix which has represented 40 percent of lease revenues in the building. Other data center and communications tenants include Verizon and Bank of America.
The transaction includes developable land contiguous to the facility allowing Equinix to expand the currently available power supply from 11 MWs to 40 MWs. As one of the 5 data center REITS, the acquisition of the Informart Dallas facility allows it to convert its use of the facility as a tenant to asset ownership.
With this acquistion and a string of other acquisitions over the past year, Equinix is projecting a $5 billion revenue stream for 2018 after recently announcing 2017 revenues of $4.36 billion.
