CalSTRS Acquires Texas Data Center

CalSTRS

The California State Teachers Retirement System (CalSTRS) this week acquired a 300,000 square foot data center in Texas through a joint venture with investment firm GI Partners.

CalSTRS and GI Partners together run a $500 million fund that focuses on telecommunications infrastructure and data centers.

More from the Sacramento Bee:

San Francisco-based GI Partners is investing the teachers’ pension money through DataCore LP, a $500 million real estate fund jointly created by GI and the pension fund. The fund targets data centers, telecommunications infrastructure and life sciences properties in primary markets leased with high-quality tenants.

[…]

With this purchase, DataCore has acquired approximately 1.8 million square feet of properties throughout the United States.

Launched in 2012, DataCore bought its first asset in November of that year, the Lightwave Corporate Center in San Diego. DataCore also bought a three-building, 299,387-square-foot property in Hayward in 2013. The fund bought a data center in Kansas City, Mo. last August, and an insurance office and data center in Glendale, Ariz., in December.

This most recent transaction is in Synergy Park in Richardson, Texas. It is a 300,000-square-foot data center and office property next to the University of Texas at Dallas campus.

CalSTRS manages about $188.4 billion in assets.

 

Photo by Stephen Curtin via Flickr CC License

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