Data Center View - December 18, 2024

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NEWS ROUNDUP

FINANCING: Prime Data Centers Secures $200M Credit Facility for Data Center Acquisitions. Cerberus Capital Management provided the $200 million credit facility to fund Prime’s U.S. data center acquisition strategy. Prime will tap equity from Ares Management, Siemens, and Macquarie Group. A Newmark team led by Jordan Roeschlaub, Jonathan Firestone, and Ben Kroll arranged the facility, with assistance from Brent Mayo.

DEVELOPMENT: Taylor Blueprint Project could reach $1B. Taylor, Texas (Austin metro) has approved a $1 billion data center development on 52 acres at 1601 Martin Luther King Jr. Drive. The agreement was made with BPP Projects LLC, which is linked to Blueprint Projects. The company last year was raising $50 million for a 10 megawatt data center that is artificial intelligence ready. Its founder and CEO is listed as Yaerid Jacob.

DEVELOPMENT: Google Expands Dallas Footprint with New Data Centers. Google is investing an additional $1 billion into data centers to support searches and AI as part of its expansion into Texas, the company announced. Google already has a sprawling campus in Midlothian and has broken ground on a 285,000-square-foot data center in Red Oak, also south of Dallas.

DEVELOPMENT: CoreWeave Anchors $5B Data Center Deal. CoreWeave’s AI-driven growth has spurred a $5 billion data center development deal, reflecting investor confidence in the startup’s potential. JV participants are American Real Estate Partners-owned PowerHouse, Chirisa Technology Parks, and Blue Owl Capital. “We have capital sources that will finance the equity and debt for CoreWeave but nobody else,” Primary Digital Infrastructure President Dave Ferdman, a co-founder of CyrusOne.

MARKET TRENDS: Data Center Owners Gain Power Over Tech Tenants (WSJ). A shifting market dynamic is giving data center owners more leverage over their Big Tech tenants as demand outstrips supply. With limited availability of high-capacity facilities, operators can dictate terms, resulting in favorable lease agreements.

DATA CENTER PROPERTIES FOR SALE 

Click on each photo for more information.

140 Acres | Pre-Approved & Pre-Engineered 200 MW Substation | Low-Cost Hydroelectric Power | Metro & Long Haul Fiber Near Site | Opportunity Zone

18,068 SF | Existing Equipment and Infrastructure Included | Duke Energy 1.5 MW Onsite | 16’ Clear | Connectivity to Charlotte CBD Carrier Hotel | Tax Incentives

ONE MORE THING

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