Published in Iron Mountain

Iron Mountain enters $178 million sale-leaseback deal with Intermediate Capital Group, and would use proceeds to invest in data centers

Jun 26, 2021 | Posted by Eric Bell

US Real Estate Investment Company Iron Mountain has announced that it sold five facilities in the greater London area to Intermediate Capital Group (ICG). The sale agreement also included a leaseback deal for the facilities. Iron Mountain will remain in the facilities for an initial 12 year period with options to renew up to 20 extra years. The deal costs $178 million, and the combined size of the five facilities is 550,000 square feet.

Barry Hytinen, EVP and CFO at Iron Mountain, said that the Company is happy to continue its capital recycling program. He also noted that the Company would be investing in higher-growth areas, including its data center business.

Resources:
IRM Press Release on June 23, 2021

Iron Mountain has 42 sites in 23 regions.

Iron Mountain Scottsdale Front Entrance

Posted in Iron Mountain Scottsdale Source: http://www.ironmountain.com/resources/data-sheets-and-brochures/s/scottsdale-data-center

An illustration of Iron Mountain's new Phoenix data center, which will feature 48MW of capacity in two phases. First 24 MW is scheduled to be delivered in June 2019

Rendering of the Expansion building that is adjacent to Iron Mountain's existing facility

Posted in Iron Mountain Phoenix |

Expansion

Posted in Iron Mountain Phoenix |

Iron Mountain Slough View From the North

Posted in Iron Mountain London LON-1 Source: Iron Mountain

Bird's Eye View

Posted in Iron Mountain Amsterdam AMS-1 Source: Iron Mountain

Entrance to Original Data Center

Posted in Iron Mountain Phoenix |

At Dusk

Posted in Iron Mountain Singapore SIN-1 |

Rooftop View