Columbia, MD-based Corporate Office Properties Trust has sold COPT DC-6, a 243,000-square-foot data center in Manassas, VA, for $223 million. The buyer is an investment vehicle managed by Cloud Capital, an affiliate company of CloudHQ.

The property was the only asset in the company’s wholesale data center reporting segment. There was no debt on the asset, and the company will recycle the proceeds into funding its 1.8 million square feet of development projects.

“Furthermore, this sale provides our Company with cost-effective equity capital to fund our highly successful and value accretive development pipeline, simplifies our corporate profile by removing the only multi-tenant data center from our portfolio, and further concentrates our capital allocation to defense/IT locations,” said Stephen Budorick, COPT’s president and CEO.

COPT owns, manages, leases, develops and selectively acquires office and data center properties. Cloud Capital is an investment management firm established to identify and capitalize on acquisitions of high-quality data centers.

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