Landmark Dividend Monetizes Key Assets from Its Vault Digital Infrastructure Portfolio, Marking a Strategic Milestone in Digital Infrastructure Investments
Landmark Dividend, a prominent acquirer, developer, and manager of digital infrastructure real property, has announced the successful sale of Vault Digital Infrastructure’s U.S. data center portfolio. The transaction, completed alongside joint venture partners CVC DIF and Northleaf Capital Partners, marks a significant milestone in the lifecycle of the Vault platform. The portfolio has been acquired by Igneo Infrastructure Partners, the direct infrastructure investment business of First Sentier Investors.
The transaction underscores Landmark’s ability to originate, operate, and monetize digital infrastructure investments at scale. As manager of Vault Digital Infrastructure, Landmark oversaw the joint venture, which was owned 49% by CVC DIF, 49% by Northleaf Capital Partners, and 2% by Landmark. From the platform’s inception through to its exit, Landmark played a central role in executing strategy, managing operations, and driving value creation across the portfolio.
At the time of sale, Vault’s U.S. portfolio comprised seven co-location and enterprise data centers located in core U.S. markets. Collectively, the assets represented approximately 75 megawatts (MW) of capacity and encompassed roughly 750,000 square feet of mission-critical data center space. The facilities serve a diverse range of enterprise and colocation customers, supporting the growing demand for secure, scalable, and high-performance digital infrastructure across industries.
The successful sale reflects the strength of the original investment thesis behind Vault. Landmark’s strategy centered on acquiring high-quality digital infrastructure assets in strategically important markets, actively managing them to enhance operational performance, and ultimately delivering value through disciplined execution and strategic exit planning. By focusing on operational excellence and long-term value creation, the platform was able to capitalize on robust demand trends driven by cloud adoption, enterprise digital transformation, artificial intelligence workloads, and increasing data consumption nationwide.
Tim Brazy, Chief Executive Officer of Landmark Dividend, highlighted the importance of the transaction in demonstrating the firm’s end-to-end capabilities in digital infrastructure investment. He emphasized that from initial asset acquisition to active management and final disposition, Landmark executed the strategy outlined at the platform’s inception. The exit not only delivered a positive outcome for joint venture partners CVC DIF and Northleaf, but also reinforced Landmark’s reputation as a disciplined operator in the rapidly evolving data center sector.
Karlton Holston, Executive Vice President – Data Centers at Landmark, further noted that the approach at Vault was intentionally straightforward and execution-focused. By targeting quality assets in strong metropolitan markets and applying rigorous operational management, the team created tangible value over the life of the investment. The transaction serves as validation of Landmark’s deep expertise in managing digital infrastructure platforms and navigating complex market dynamics.
The sale also comes at a time when investor appetite for digital infrastructure remains strong. Data centers are increasingly viewed as core infrastructure assets due to their critical role in supporting cloud computing, enterprise IT modernization, content delivery, and emerging technologies such as edge computing and AI. As demand for data storage, processing power, and connectivity accelerates, institutional capital continues to flow into the sector, seeking stable, long-term returns backed by durable growth drivers.
For Igneo Infrastructure Partners and its parent organization, First Sentier Investors, the acquisition aligns with a broader strategy of investing in essential infrastructure assets that underpin modern economies. The addition of a diversified portfolio of operational data centers in established U.S. markets enhances Igneo’s footprint in digital infrastructure, a segment that has proven resilient and growth-oriented even amid broader economic volatility.
Throughout the lifecycle of Vault, Landmark was responsible for sourcing acquisition opportunities, conducting due diligence, structuring transactions, and implementing operational and capital improvement initiatives. The firm’s hands-on management approach included optimizing leasing strategies, enhancing tenant relationships, improving operational efficiencies, and positioning the portfolio to meet evolving customer needs. These efforts were designed not only to increase revenue and cash flow stability, but also to strengthen the portfolio’s long-term strategic value.
Legal counsel for Vault in the transaction was provided by Akin Gump Strauss Hauer & Feld LLP, which advised on the legal and transactional aspects of the sale.
The sale of Vault’s portfolio adds to Landmark’s broader track record in digital infrastructure investment and management. The company currently manages more than 70 data centers and has built a diversified portfolio that spans data centers, wireless communication sites, outdoor media real estate, and renewable power projects. With over 160 employees and offices in Los Angeles, West Palm Beach, New York, Atlanta, and Sydney, Landmark operates with a global perspective while maintaining strong regional expertise in key markets.
Landmark’s corporate evolution over recent years has further strengthened its position in the infrastructure investment landscape. In June 2021, the company became a portfolio company of DigitalBridge, a global investment manager focused exclusively on digital infrastructure. This strategic alignment provided Landmark with enhanced access to capital, industry insights, and global connectivity within the digital ecosystem. Subsequently, in April 2024, a wholly owned subsidiary of Abu Dhabi Investment Authority acquired a 40% interest in Landmark, reinforcing confidence in the firm’s long-term growth trajectory and operational expertise.
The Vault transaction exemplifies how institutional partnerships, disciplined asset management, and sector specialization can generate compelling outcomes in the digital infrastructure space. By combining strategic capital partners with experienced operational leadership, Landmark successfully built and monetized a platform positioned to meet the increasing demands of the digital economy.
As data consumption continues to surge and enterprises migrate workloads to cloud and hybrid environments, demand for reliable, scalable data center infrastructure is expected to remain robust. Landmark’s leadership has indicated that the firm continues to see attractive opportunities across the digital infrastructure sector, particularly in markets characterized by strong connectivity, power availability, and enterprise demand.
The completion of this sale not only marks the culmination of a successful investment cycle for Vault Digital Infrastructure but also highlights Landmark’s ongoing commitment to delivering value for its partners. With a proven ability to identify opportunities, enhance asset performance, and execute strategic exits, Landmark Dividend remains well-positioned to play a significant role in shaping the future of digital infrastructure real estate.
