PART OF THE $3.5B PORTFOLIO PARTNERSHIP
Capital management company CBRE Caledon, has announced its acquisition of a significant minority stake in the newly-formed platform that contains 12 North American stabilized operating facilities of Vantage Data Centers.
The newly-formed platform is a consortium led by Colony Capital which will invest $1.2 billion in Vantage’s portfolio to acquire major stakes across Vantage’s 12 stabilized North American data centers, spanning more than 1.4 million gross square feet and 150MW of IT capacity across markets in Santa Clara, California; Quincy, Washington; Montreal and Quebec City, Canada.
“CBRE Caledon is excited to complete this investment on behalf of our fund, separately managed accounts and co-investors as we continue to invest in infrastructure for the new economy,” said Stephen Dowd, Chief Investment Officer, Private Infrastructure Strategies, CBRE Caledon.
“In addition to providing the resilient characteristics that our clients are looking for in today’s investment environment, we are impressed by Vantage’s commitment to its ESG-goals of reducing emissions and energy efficiency, which include its Washington and Quebec data center campuses that draw power from renewably sourced electricity.”
The full partnership with Vantage is reported to be worth $3.5 billion as it requires Vantage’s executive team, led by President and CEO Sureel Choksi to continue to manage and operate the 12 facilities as part of its footprints.
“Vantage is proud to partner with CBRE Caledon as we embark upon our next stage of growth. We appreciate their continued support and commitment to provide the necessary capital to fuel our expansion across existing and global markets. This investment positions us to capitalize on new opportunities to meet our customers’ requirements in locations that matter most to them,” said Choksi.
As announced, the consortium’s investment in Vantage has now been completed with funds from Colony Capital Inc. the lead investor, CBRE Caledon, and other co-investors including Hana Financial Investment and a fund sponsored by Rasmala Investment Bank.