Hyperscale Data Subsidiary Signs Contract to Sell St. Petersburg Development Property for $13.2 Million
Hyperscale Data, Inc. (GPUS)
Company Research
Source: Business Wire
LAS VEGAS--(BUSINESS WIRE)--Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data,” or the “Company”), today announced that its wholly owned indirect subsidiary, Third Avenue Apartments LLC, has signed a Purchase and Sale Agreement (“PSA”) with a large New York based real estate firm, to sell its St. Petersburg development property. The decision to sell the property aligns with the previously announced reorganization efforts and the Company’s desire to streamline operations and create a pure-play data center business.“We are excited to have reached an agreement for the sale of our St. Petersburg development property, marking a milestone for new growth and investment in the region,” said William Horne, CEO of Hyperscale Data. “This decision reflects our commitment to strategically realign our resources and enhance our core capabilities within our data center operations.”The sale of the property is expected to close by year-end 2024, but the Co
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