News and Press

Sabey Corporation and National Real Estate Advisors, LLC Close $150M Investment from Manulife Investment Management

February 11, 2021

Seattle, WA / Washington, D.C. (February 11, 2021) – Sabey Corporation and National Real Estate Advisors, LLC (National) announce the closing of a $150 million investment in Sabey Data Center Properties LLC (SDCP) by their new strategic partner, Manulife Investment Management.  Manulife Investment Management’s commitment was funded from the John Hancock Life Insurance Company (U.S.A.) balance sheet as well as third party managed accounts.

SDCP is one of the largest and greenest privately held data center owner/developer/operators in the United States, as well as the sole data center ABS master trust platform with an S&P A+ credit rating.  Funds from this closing will be used to capitalize on robust tenant demand for data center space by growing SDCP’s portfolio.

“The Sabey partnership with National Real Estate Advisors has been key to our success in expanding our nationwide data center footprint and we are pleased to welcome Manulife Investment Management as a new strategic partner,” said Dave Sabey, Chairman & President, Sabey Corporation. “Demand for digital capacity will continue to increase and Sabey Data Center Properties is dedicated to meeting that demand.”

“The past year saw some major shifts in the commercial real estate market, but the data center market remained strong,” stated Jeffrey Kanne, President and CEO of National Real Estate Advisors. “We look forward to investing this capital which underscores our commitment to the data center market and its continued growth.”

For more information about National’s investment strategy, visit www.natadvisors.com.

###

ABOUT SABEY DATA CENTER PROPERTIES

Sabey Corporation is a fifty-year old privately held Seattle-based real estate development company specializing in mission critical and other technical space and the parent of Sabey Data Center Properties. With a portfolio of more than three million square feet of mission critical space, SDCP is one of the largest privately-owned multi-tenant data center owner/developer/operators in the United States. SDCP specializes in scalable, custom-built solutions including data center ready shell space and fully turnkey data centers managed by SDCP’s award-winning critical environment staff. Consistently recognized for low-cost hydroelectric power, operational excellence through its world-class data centers and sustained uptime, SDCP is proud to provide data center services to many of the world’s top financial, technology and healthcare companies.

ABOUT MANULIFE INVESTMENT MANAGEMENT

Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 17 countries and territories. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.

Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

ABOUT NATIONAL REAL ESTATE ADVISORS, LLC

National Real Estate Advisors, LLC is an investment manager specializing in a build-to-core strategy, developing and managing large-scale, urban commercial and multifamily projects for its institutional client accounts. National constructs investment portfolios of modern property assets—apartment, office, mixed use, industrial (including data centers), and hotel—with design features, technological enhancements, and amenities that drive high tenant demand and can create value for investors. National is an independently operated subsidiary of the National Electrical Benefit Fund (“NEBF”), a substantial pension trust with a significant amount of assets that are managed by National on a discretionary basis. For more information, please visit www.natadvisors.com. ​