Vantage Knowledge Facilities has secured a $735 million refinancing package deal for 3 information facilities in Goodyear, Ariz., Bisnow first reported. Wells Fargo, Citibank and Goldman Sachs originated the fixed-rate be aware, anticipated to shut in July this yr, based on a Fitch Rankings report.
The brand new funds will probably be used to interchange a $560 million current mortgage. Moreover, the remaining proceeds will probably be used for paying estimated closing prices of as much as $10.5 million, whereas $164.5 million of fairness will probably be returned to Vantage Knowledge Facilities.
Vantage backed the refinancing with three information facilities totaling 495,654 sq. toes and 64 megawatts. The buildings got here on-line between 2023 and 2024. These services embrace workplace areas, safe storage, various utility energy feeds, laptop room air dealing with models and closed-loop chilled water methods and are energy served by Arizona Public Service Co.
Vantage Knowledge Facilities’ Phoenix campus, dubbed AZ1, is a 50-acre property that features 5 services and is deliberate to help a complete of 176 megawatts. The corporate purchased the land in 2019 and developed the hyperscale campus in two phases.
The developer up to now invested greater than $1.5 billion into the mission and envisioned it to comprise greater than 1 million sq. toes. The primary facility got here on-line in 2021, and the campus was Vantage Knowledge Facilities’ largest, second solely to its Cardiff, U.Okay. one. The fourth constructing, dubbed AZ14, was topped out final yr, based on Knowledge Middle Dynamics.
Vantage secured practically $15 billion within the final 12 months
On par with present information heart development developments, the corporate lately secured funds for its persevering with growth. Earlier this month, Vantage obtained $5 billion to finance development, of which $2.25 billion will probably be used for the development of a brand new information heart campus in New Albany, Ohio, whereas the remaining quantity will probably be used to reinforce its credit score facility.
In the identical interval final yr, Vantage accomplished a $9.2 billion in fairness increase for its U.S. development in addition to its growth technique in Europe and the Center East. The funding automobile was oversubscribed by $2.8 billion offered by a number of world traders.
