XML 22 R12.htm IDEA: XBRL DOCUMENT v3.21.1
Investments in Unconsolidated Entity
3 Months Ended
Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Entity Investments in Unconsolidated EntityDuring the three months ended March 31, 2019, we formed an unconsolidated entity with Alinda Capital Partners (“Alinda”), an infrastructure investment firm. We contributed a hyperscale data center under development in Manassas, Virginia to the entity. The facility, and the previously executed 10-year operating lease agreement with a global cloud-based software company, was contributed to the unconsolidated entity in exchange for cash and noncash consideration in the form of equity interest in the entity that was measured at fair value pursuant to Topic 820. The equity interest received and any amounts due from the unconsolidated entity are recorded within our consolidated balance sheets and totaled $25.9 million and $22.6 million as of March 31, 2021 and December 31, 2020, respectively. We and Alinda each own a 50% interest in the entity. As we are not the primary beneficiary of the arrangement but have the ability to exercise significant influence, we concluded that the investment should be accounted for as an unconsolidated entity using equity method investment accounting. As of March 31, 2021 and December 31, 2020, the total assets of the entity were $145.8 million and $141.5 million, respectively. As of March 31, 2021 and December 31, 2020, the total debt outstanding, net of deferred financing costs, was $92.2 million and $90.1 million, respectively.