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DigitalBridge Announces Expansion of Vantage SDC Platform
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
DigitalBridge Group has announced the acquisition of the CA22 hyperscale data center in Santa Clara, CA, enhancing its Vantage SDC platform. Valued at $539 million, the acquisition will be funded through existing debt facilities and cash. This acquisition marks Vantage SDC's first since its formation in July 2020 and increases its capacity by 14% to 177MW. The transaction demonstrates DigitalBridge's commitment to growing its portfolio of stabilized data centers while providing consistent returns for investors.
Positive
Acquisition of CA22 hyperscale data center valued at $539 million.
Increases Vantage SDC's capacity by 14% to 177MW.
First hyperscale acquisition since Vantage SDC's formation in July 2020.
Negative
None.
Acquisition of 24MW CA22 facility extends footprint in highly desirable Santa Clara, CA market
BOCA RATON, Fla.--(BUSINESS WIRE)--
DigitalBridge Group, Inc. (“DigitalBridge”), today announced the expansion of the Vantage SDC (Stabilized Data Centers) platform with the acquisition of CA22, a 24MW hyperscale data center serving the strategic Santa Clara, CA market. The transaction is valued at $539 million and will be funded primarily through existing and new Vantage SDC debt facilities and cash on hand.
The CA22 data center facility is located in Vantage Data Center’s CA2 campus next to Vantage SDC’s fully-owned CA21 facility, which serves the supply-constrained Santa Clara market.
The transaction is a significant milestone for Vantage SDC, representing its first hyperscale data center acquisition since its formation in July 2020 through a $3.5 billion strategic partnership between Vantage Data Centers and a DigitalBridge-led investor group. Vantage Data Centers will continue to manage and operate CA22 as part of its global data center footprint, maintaining the same level of superior service for its valued customers. The transaction extends Vantage SDC’s footprint to 13 stabilized hyperscale data centers across North America and expands capacity by 14% to 177MW.
“DigitalBridge’s commitment to supporting the growth of its portfolio companies while serving the growing need for hyperscale data centers remains strong,” said Marc Ganzi, President and CEO of DigitalBridge. “This transaction not only advances Vantage SDC’s strategic plan to grow its portfolio of stabilized data centers, but also increases DigitalBridge’s exposure to world-class digital infrastructure assets that deliver consistent returns for investors.”
TD Securities acted as Sole Lead Arranger and Bookrunner on a $105 million Term Loan supporting the transaction.
About DigitalBridge
DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure REIT. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $35 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in Los Angeles, New York, London, and Singapore.
Vantage SDC
Vantage SDC is a portfolio of world-class stabilized hyperscale data centers located in strategic markets across North America. Vantage SDC was formed in July 2020 via a $3.5 billion strategic partnership between a DigitalBridge-led investor group and Vantage Data Centers, which manages and operates Vantage SDC’s facilities as part of its global data center footprint. Vantage SDC is headquartered in Denver, Colorado.
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Factors that might cause such a difference include, without limitation, the performance of the Company’s portfolio of stabilized data centers, including CA22, and other risks and uncertainties, including those detailed in DigitalBridge’s Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, and its other reports filed from time to time with the U.S. Securities and Exchange Commission (“SEC”). All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. DigitalBridge cautions investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this press release. DigitalBridge is under no duty to update any of these forward-looking statements after the date of this press release, nor to conform prior statements to actual results or revised expectations, and DigitalBridge does not intend to do so.
