Finance firm Carter Validus Mission Critical (CVMC) has bought Ascent’s CH2 data center facility in Chicago for US$211.7m and has pledged to continue its expansion.

Ascent said it will continue to work directly with current and future tenants through its operation of the facility and will manage all data center development, design, construction, engineering and operational services.

The CH2 facility - a 250,000 sq ft multi-tenant data center - was built using Ascent’s Dynamic Data Center SuiteSM model and shared infrastructure colocation suites.

It houses users whose critical power needs range from 1 to 20 MW and a diverse range computing clients that includes small, medium and global enterprises.

In the new partnership, Carter Validus will fund the project while Ascent will build data center suites and manage the wholesale of colocation space.

Ascent said its CH2 tenants will still be supported by its onsite operational support, remote management and smart hands services.

Ascent’s CEO Phil Horstmann claimed the partnership allows each party to concentrate on their strong points.

If Ascent can stick to building data centers, it can get a better source of strategic investment for locations, Horstmann said.

“CVMC’s commitment to the data center space is the perfect complement to our design, construction and operational abilities,”  Horstmann said.

Advisor to CVMC, Carter Validus's president Michael Seton, said it was the Chicago location, the long-term nature of the leases and the quality of the tenants that attracted CVMC.

“CH2 is a great addition to the portfolio of mission critical real estate assets,” Seton said.

According to Carter Validus CEO John Carter, CH2 is the group's biggest acquisition to date.

“It demonstrates our commitment to the data center space,” Carter said.