Landmark Dividend Acquires T-Mobile-Leased Data Center in Jacksonville, Florida for $8.1M

California-based investment firm Landmark Dividend has expanded its digital infrastructure portfolio with the acquisition of a data center in Jacksonville, Florida, in a deal valued at $8.1 million. The facility, located at 7025 Skinner Parkway in Duval County, spans 32,945 square feet (approximately 3,060 square meters) and is leased by T-Mobile, the wireless network operator that is part of the Deutsche Telekom Group, which holds a 52.8 percent stake in the company.

The transaction, completed earlier this month, underscores the continued investor appetite for stabilized, single-tenant data center assets in secondary markets across the United States. According to the Jacksonville Daily Record, the seller was Connecticut-based private investment firm Gallatin Point Capital, acting through its special purpose entity RDC-7025 AC Skinner Parkway LLC. Gallatin Point had acquired the Jacksonville facility in 2022 from PATBSS LLC, a local holding company managed by Eighteen Ten Partners Inc. and the Jacksonville-based Stein family, for $10.5 million.

However, the property at 7025 Skinner Parkway appears to correspond to a facility that StratCap, formerly known as Strategic Capital, acquired in 2022 for the same $10.5 million price. The location of the Jacksonville Data Center on StratCap's digital map aligns with the address details shared by Landmark. DCD has contacted both Gallatin Point Capital and Landmark Dividend for clarification regarding the ownership history and the transaction structure.

Gallatin Point, founded in 2017 and headquartered in Greenwich, Connecticut, is a private investment firm specializing in assets, services, and financial institutions. The firm manages more than 30 portfolio investments with $5.7 billion in assets under management. StratCap, an investment management platform focused on digital infrastructure, was acquired by Australian asset management company HMC Capital in September 2024 for $28.5 million. HMC Capital oversees more than AU$18.7 billion in assets.

For Landmark Dividend, the Jacksonville acquisition adds to a portfolio that already includes more than 70 data centers and over $4.3 billion in assets under management across real estate and infrastructure. The firm has been active on both the buy and sell sides of the market. In February of this year, Landmark sold its Vault Digital Infrastructure data center portfolio—comprising seven facilities spanning 750,000 square feet (69,675 square meters) and 75MW of capacity—to Igneo Infrastructure Partners. That sale also involved CVC DIF and Northleaf Capital Partners, as Vault was a joint venture owned by CVC DIF (49 percent), Northleaf (49 percent), and Landmark (2 percent). Landmark served as the manager of Vault, handling asset acquisitions and portfolio management for the digital infrastructure company.

Commenting on that earlier transaction, Landmark CEO Tim Brazy said: "This transaction demonstrates Landmark's ability to deliver results for our investment partners across the full lifecycle of digital infrastructure assets. From initial acquisition through active management and ultimate disposition, our team executed on the strategy we outlined at inception. We're pleased to have delivered a strong outcome for CVC DIF and Northleaf."

The Jacksonville deal reflects a broader trend of investment firms rotating capital into data center assets that offer stable, long-term lease structures, particularly those backed by creditworthy tenants such as T-Mobile. As the digital infrastructure sector continues to attract institutional capital, secondary-market facilities with existing operational history are increasingly viewed as attractive opportunities for yield-focused investors. Landmark, founded in 1985, has been a portfolio company of DigitalBridge since June 2021, and in April 2024, a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) acquired a 40 percent stake in the firm.

The broader context of the transaction also highlights the interconnected nature of the data center investment landscape. Igneo Infrastructure Partners, the buyer of Landmark's Vault portfolio, is the infrastructure arm of First Sentier Investors, an Australian asset management firm founded in 1988 that manages AU$214.4 billion (approximately $151 billion) in assets. CVC DIF, the infrastructure strategy of private equity firm CVC, holds €23 billion ($26.5 billion) in assets under management, while Northleaf is a Canadian global private markets investment firm with more than $32 billion in commitments raised.