Carter/Validus Enters Into Agreement to Buy Texas Data Center

This information comes directly from a Form 8K filed May 4 by Carter Validus Mission Critical REIT, Inc.

On April 28, 2011, Carter/Validus Operating Partnership, LP (“CVOP”), the operating partnership of Carter Validus Mission Critical REIT, Inc. (the “Company”) entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”) with 3300 Essex, L.P., a Texas limited partnership, which is not affiliated with the Company, its advisor or its affiliates (the “Seller”), for the purchase of 100% of the Seller’s interest in an approximately 20,000 square foot net leased data center, (the “Data Center Property”). The terms of the Purchase and Sale Agreement provide for a purchase price of $28,940,000, plus closing costs.

3300 Essex The Purchase and Sale Agreement provides for (i) a due diligence period from April 28, 2011 through May 31, 2011; (ii) an initial earnest money deposit of $500,000, which will be applied towards the purchase price on the completion of the acquisition of the Data Center Property; (iii) a right to terminate the Purchase and Sale Agreement, in CVOP’s sole discretion, at any time prior to the expiration of the due diligence period; (iv) if the Purchase and Sale Agreement is terminated prior to the expiration of the due diligence period, the initial earnest money deposit will be refunded to CVOP; and (v) an anticipated closing date of June 30, 2011. The Purchase and Sale Agreement also contains customary covenants, closing conditions, representations and warranties, and indemnification provisions.


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