The company said proceeds from this transaction are primarily being used to refinance outstanding debt and will reduce Vantage’s overall cost of capital by approximately 30% on average across its capital structure and extend debt maturities. This financing also provides cash for further investment.
“The current market environment proved extremely advantageous for Vantage and our investors to lower our capital costs, extend maturities and provide funding for growth opportunities,” said Sharif Metwalli, Vantage’s CFO. “Having access to capital at today’s attractive market rates gives us the ability to redeploy the realized savings with additional investments to grow the business across key regions throughout North America where our customers’ data center requirements continue to increase.”
Citing a substantial increase in customer demand for premiere hyperscale data center space in recent months, Vantage Data Centers has begun construction on additional data center facilities at its growing Northern Virginia campus and its second Silicon Valley campus.
In Northern Virginia’s Data Center Alley, Vantage started construction on the next facility on its Ashburn campus. VA12 is the second of five planned facilities on the 42-acre campus, which will include more than 1 million square feet and 146MW of IT capacity once fully developed. Upon completion, VA12 will consist of 36MW of IT capacity and more than 250,000 square feet. Phase 1 is expected to be operational in Q1 2021.
In Silicon Valley, Vantage has begun construction of CA23 on its second Santa Clara campus, which will include a total of three facilities and 77MW of IT capacity upon completion. This newest facility will consist of more than 200,000 square feet, providing customers with 32MW of IT capacity. It is slated for completion in the second half of 2021.
CA23 is located on a nine-acre site less than two miles from Vantage’s flagship campus, the largest LEED certified campus in North America with a total of 77MW and six facilities. Combined, Vantage’s two Santa Clara campuses will provide customers with a total of nine facilities and 154MW of capacity in the heart of Silicon Valley.
“Vantage continues to experience a heightened global demand for hyperscale data center services,” said Sureel Choksi, president and CEO of Vantage Data Centers. “Because our customers want to grow with us across multiple markets, we continue to develop sustainable, state-of-the-art facilities across our portfolio, including in the world’s top data center markets.”
https://vantage-dc.com/data-centers
Vantage Data Centers announced a strategic partnership valued at $3.5 billion to accelerate the expansion of its wholesale data centers throughout North America and Europe.
Specifically, the Colony-led investor group will invest $1.2 billion in Vantage’s diversified portfolio, including 12 stabilized North American data centers, which span more than 1.4 million gross square feet and 150MW of IT capacity across key strategic markets in Santa Clara, California; Quincy, Washington; Montreal and Quebec City, Canada.
Vantage’s management team, led by Sureel Choksi, president and CEO, will continue to manage and operate these assets as part of its global data center footprint. Vantage will maintain the same level of superior service to its valued customers in each market, while simultaneously developing and operating additional data centers throughout North America and Europe. The capital provided by this transaction will support Vantage’s strategy to expand and enhance its global footprint.
http://www.vantage-dc.com
