Vantage Knowledge Facilities has secured a $735 million refinancing package deal for 3 knowledge facilities in Goodyear, Ariz., Bisnow first reported. Wells Fargo, Citibank and Goldman Sachs originated the fixed-rate word, anticipated to shut in July this yr, in line with a Fitch Scores report.
The brand new funds shall be used to exchange a $560 million present mortgage. Moreover, the remaining proceeds shall be used for paying estimated closing prices of as much as $10.5 million, whereas $164.5 million of fairness shall be returned to Vantage Knowledge Facilities.
Vantage backed the refinancing with three knowledge facilities totaling 495,654 sq. toes and 64 megawatts. The buildings got here on-line between 2023 and 2024. These amenities 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 amenities 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 to this point invested greater than $1.5 billion into the undertaking 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.Ok. one. The fourth constructing, dubbed AZ14, was topped out final yr, in line with Knowledge Middle Dynamics.
Vantage secured almost $15 billion within the final 12 months
On par with present knowledge heart development traits, the corporate lately secured funds for its persevering with enlargement. Earlier this month, Vantage obtained $5 billion to finance development, of which $2.25 billion shall be used for the development of a brand new knowledge heart campus in New Albany, Ohio, whereas the remaining quantity shall be used to enhance its credit score facility.
In the identical interval final yr, Vantage accomplished a $9.2 billion in fairness elevate for its U.S. development in addition to its enlargement technique in Europe and the Center East. The funding automobile was oversubscribed by $2.8 billion supplied by a number of world traders.
