Iron Mountain announced that it has sold a portfolio of five facilities to Intermediate Capital Group (ICG), generating gross proceeds of approximately $178 million, based on current exchange rates. The transaction, totaling 550,000 square feet, is a sale-leaseback transaction with the properties located in the greater London area. Iron Mountain will remain in these facilities under an initial twelve-year lease term, with options to renew up to an additional 20 years. This transaction is part of Iron Mountain’s ongoing capital recycling program, and Iron Mountain expects to utilize the proceeds to reinvest in higher growth areas of its business.