NORWALK, Conn. – NorthStar Real Estate Income II, Inc. announced that it originated a $41 million senior loan secured by a newly constructed, state-of-the-art data center in Norwalk.
Investment highlights include the following:
- The borrower is an experienced commercial real estate owner and operator with over 5.7 million square feet of commercial property under management throughout the United States.
- The property was built-to-suit in 2014 and contains over 167,000 rentable square feet.
- The property is 100 percent master-leased pursuant to a 21-year net lease.
- The tenant, an affiliate of Cervalis, is a leading provider of IT infrastructure solutions and has made a substantial capital investment toward the construction of the property.
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