Strategic Data Center Fund Manager secured a revolving line of credit that converts into a permanent loan. According to the announcement, the credit facility will initially provide the ability to borrow up to $25,000,000. The company also stated that it anticipates increasing the size of the facility to aggregate commitments of up to as much as $200,000,000.
Acquiring and developing
The credit line will enhance the company’s ability to continue acquiring and developing a diversified portfolio of data center real estate assets. Sunflower Bank expedited the close of the first $25 million of the line of credit to help facilitate the acquisition of a data center property. Bryan Marsh, Chief Executive Officer of Strategic Data Center said,
“We appreciate the confidence and commitment that Sunflower Bank has made to our company. This credit facility provides us with the flexibility to capitalize on the growing number of data center opportunities in our pipeline. It also serves as a testament to the Company’s investment thesis, operational strength, and ability to execute within the data center real estate arena.”