DataBank has obtained $2 billion in fairness increase led by AustralianSuper, which dedicated $1.5 billion. The corporate additionally secured an extra $483 million in commitments from current buyers. The deal is scheduled to shut by the top of the 12 months.
This marks AustralianSuper’s first funding within the U.S. and the second alongside current DataBank investor DigitalBridge. Upon closing, the Australian fund will purchase a considerable minority stake in DataBank and can be part of the corporate’s board of administrators.
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The funding will fund the development of greater than 850 MW of information heart capability throughout DataBank’s portfolio, in addition to diversify the investor’s world digital infrastructure publicity.
Proceeds will finance the developer’s stock growth involving three new campuses introduced over the past months. These developments embrace a 480 MW campus close to Dallas, a 192 MW campus in Culpeper, Va., and a 120 MW campus within the Atlanta MSA.
BofA Securities and Residents Capital Markets Inc. acted as monetary advisors for DataBank. Citi acted as monetary advisor for AustralianSuper. Simpson, Thatcher & Bartlett LLP acted as authorized counsel to DataBank and Milbank LLP acted as authorized counsel to AustralianSuper.
Within the final 12 months, DataBank raised greater than $4 billion in debt and fairness. In April, the corporate established a $725 million credit score facility to finance ongoing and future information heart developments in current markets. The agency’s portfolio consists of upwards of 65 information facilities throughout greater than 27 markets.
DataBank’s underway information facilities
DataBank introduced the development of a 480 MW information heart campus close to Dallas earlier this fall. Set to be the agency’s largest challenge thus far, the event will comprise eight two-story buildings throughout 292 acres and will likely be constructed in two phases.
The Culpeper, Va., challenge was introduced final November. Plans referred to as for a campus to host as much as three two-story information facilities and 1.4 million sq. toes of area. The positioning would additionally embrace a 300 MW on-site substation from Dominion Power.
That very same month, DataBank acquired 95 acres in Lithia Springs, Ga., for its new Atlanta-area information heart campus. Dubbed ATL5, the 120 MW challenge would comprise two multi-story buildings for hyperscale developments.
