Wells Fargo, Citibank and Goldman Sachs originated a $723 million fixed-rate note to refinance a three-data-center portfolio in Goodyear. Vantage Data Centers is the sponsor.
Commercial Edge reports the new funds will be used to replace a $560 million existing loan. Additionally, the remaining proceeds will be used for paying estimated closing costs of up to $10.5 million, while $164.5 million of equity will be returned to Vantage Data Centers.
Vantage backed the refinancing with three data centers totaling 495,654 square feet and 64 megawatts. The buildings came online between 2023 and 2024. These facilities include office spaces, secure storage, diverse utility power feeds, computer room air handling units and closed-loop chilled water systems and power is served by Arizona Public Service Co.
Vantage Data Centers’ Phoenix campus, dubbed AZ1, is a 50-acre property that includes five facilities and is planned to support 176 megawatts.
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