GI Partners Loans $450M To Fast-Growing Data Center Developer
GI Partners is lending nearly a half-billion dollars in development funding to Denver-based data center provider Vantage Data Centers.
The infrastructure investment giant announced last week it is extending a $450M term loan facility to Vantage, one of the world’s largest providers of data center campuses focused on the hyperscale market.
According to GI Partners, the money will be used to facilitate the continued build-out of Vantage’s data center portfolio as the company continues its expansion across key North American markets.
Indeed, Vantage is already rapidly growing its footprint in the U.S. Backed by data center investing powerhouse DigitalBridge, the firm operates close to 2 gigawatts of capacity globally and has been aggressively expanding its portfolio of 11 campuses in North America.
Vantage is finishing construction on its $1.5B “megascale” campus in the Phoenix suburb of Goodyear, Arizona. The 1M SF campus, expected to be completed in the spring, will offer 176 megawatts of capacity. The firm also filed plans in August for a 1.7M SF data center complex in Douglas County, Georgia, the company’s first foray into the Atlanta market. Days later, Vantage purchased an 89-acre development site near San Antonio.
San Francisco-based GI Partners is one of the largest players in the data center investment landscape, with more than $100B in total assets under management. In partnership with KKR, the company in 2021 acquired data center REIT CyrusOne, taking the data center operator private in a $15B deal that remains one of the largest in the history of the sector.
GI Partners has continued to aggressively deploy capital across the data center landscape throughout this year, acquiring an Ashburn, Virginia, data center in April for $150M and buying two Chicago facilities from Digital Realty in July in a deal financed for $450M.
