search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsLandlords to Rent Board: The Bronx will burn againLandlords to Rent Board: The Bronx will burn againHousing deal finally passes; here are the detailsHousing deal finally passes; here are the details
Commercial
Texas

Blackstone provides $600M financing for Aligned Data Centers 

Will go toward Plano-based company’s largest campus yet, in Utah

Aligned Data Center Scores $600M in Financing From Blackstone
Aligned CEO Andrew Schaap with a rendering of the planned facility in West Jordan, UT (Aligned Data Centers, LinkedIn)

A Blackstone affiliate just dished out a hefty loan that will bolster Aligned Data Centers’ largest facility yet. 

Plano-based Aligned, one of the companies fueling the data center boom in Texas, received a $600 million credit facility from New York-based Blackstone Credit & Insurance, the Dallas Morning News reported. 

The funds will go toward the development of Aligned’s two-story, 80-megawatt campus in West Jordan, Utah. The project, comprising three facilities, aims to meet the rising demand for data center space, used for storing computing machines and related hardware equipment.

Blackstone’s commitment to Aligned stems from its Infrastructure & Asset Based Credit Group, part of the recently integrated Blackstone Credit & Insurance segment. 

Aligned, with operations spanning the United States, Canada and Latin America, has also revealed plans to expand its flagship Plano campus with a 450,000-square-foot data center and electrical substation.

Sign Up for the undefined Newsletter

Data centers are proliferating throughout the nation, especially in Dallas-Fort Worth, where over 800,000 square feet of data center space is under construction and 2.6 million square feet is in the development pipeline, the outlet reported.

Among notable projects in the region, Blackstone subsidiary QTS Data Centers is embarking on a $220 million data center in North Fort Worth, near Hillwood’s AllianceTexas development.

South of Dallas, Google has plans for a $600 million data center in Red Oak, roughly 20 miles southwest of its other data center in the area. Separately, Addison-based Compass Datacenters is building a $100 million, 250,000-square-foot facility in Red Oak.

Elsewhere in DFW, CyrusOne is expanding its data center campus in Allen with a 126,000-square-foot facility at the corner of Chelsea Boulevard and Ridgeview Drive, set to cost an estimated $32 million.

—Quinn Donoghue

Read more

Companies and People
Aligned Data CentersBlackstone
Tags
Data CentersFinancingloan