Mark IV Capital, a Newport Beach-based private equity firm specializing in real estate, sold 300 acres of open land to Washington-based Microsoft Corp, for about $70 million.
The transaction was confirmed by public documents and a Mark IV Capital spokesperson. Public documents obtained from Lyon County, Nevada, where Fernley is located, show the transaction’s value was $70.5 million.
The 300-acre property is located in Fernley, Nevada, about 35 miles east of Reno, Nevada, and could be used for a data center. The land sale is part of Victory Logistics District, a 4,300-acre master-planned industrial and logistics hub.
Read the April 28 issue for additional reporting of the Mark IV Capital-Microsoft deal.
