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21 January 20224 minute read

DLA Piper advises CyrusOne in US$670 million sale of four Houston data centers to DataBank Holdings

DLA Piper represented CyrusOne, a premier global data center REIT, in its sale of four Houston-area data centers to Databank Holdings, a leading provider of enterprise-class colocation, interconnection and managed cloud services.

Under the terms of the agreement, DataBank will acquire the Houston West I, II and III and Houston Galleria data centers from CyrusOne. Additionally, CyrusOne will lease back from DataBank the Houston West III shell to support a lease signed with a hyperscale customer in the fourth quarter of 2021.

“It was a pleasure to represent CyrusOne in this transaction, bringing together our market-leading transactional capabilities and deep understanding of the data center industry to drive a successful result that will allow our client to optimize its portfolio and fund its continued growth,” said Joe Alexander, DLA Piper vice chairman and the lead partner on the deal team along with Daniel Rollman.

In addition to Alexander (Miami) and Rollman (Atlanta), the DLA Piper deal team representing CyrusOne included partners Mike Bedke (Miami), Gregory Dahlgren, Vinny Sanchez (both of Chicago) and Paolo Morante (New York).

With approximately 200 real estate lawyers in the US and 500 globally, DLA Piper's market-leading Real Estate practice offers a full range of real estate services, including acquisitions and sales, single asset, programmatic and operating company joint ventures, real estate fund formation, public and private REITs, financing, zoning and development, construction and design, leasing and restructuring and workouts. The firm executes hundreds of transactions every year, ranging from billon-dollar-plus transactions to the acquisition, financing, joint venture formation, leasing and sale of individual properties.

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.