StratCap announced today that its wireless infrastructure division has completed acquisition of more than $35 million (€31.88 million) in data centres and cell towers.
The Santa Clara Data Centre is located in the heart of Silicon Valley, is 100% leased to a top-tier wireless carrier, and serves as a network switch facility, supporting major connectivity needs in the region. The property was purpose-built, designed to the highest standards, and constructed from the ground up for fibre network switch and data centre use, providing greater uptime, higher levels of security, and top-tier performance standards.
The St. Louis Data Centre is a newly constructed building and 100% leased to two high credit quality tenants. It is a highly secure facility with redundant designs to ensure 100% uptime, meeting the high-density computing requirements of government agencies and major employers in the United States. The St. Louis market plays a crucial role in the network landscape of the Midwest. Its central location makes it ideally suited for organisations looking to deliver lower latencies in a central U.S. location.
Jim Condon, managing partner at StratCap, states, “Data centres are an integral component of our digital ecosystem. They serve as mission critical facilities for the tenants that occupy them, and we’re excited to add these dynamic assets to our portfolio.” In conjunction with the data centre acquisitions, StratCap added an additional $35 million (€31.88 million) credit facility from Sunflower Bank, which it expects to expand over time to help facilitate future acquisitions. In addition to the data centre acquisitions, StratCap Wireless also closed on several cell towers, located in Tennessee and Massachusetts, whose tenants include the top three U.S. wireless carriers.”
Scott Riggs, chief operating officer of StratCap Wireless states, “We’re very excited about our tower business. Not only are we very active on the acquisition front, but our lease-up activities, including 5G upgrades and new tenant additions, have surpassed our initial underwriting expectations helping to bolster overall tower cash flows.”.
Todd Rowley, CEO of StratCap Wireless, adds, “We have expanded our existing portfolio of cell towers and wireless easements to now include the third leg of the digital infrastructure stool data centre real estate. We’re thrilled at our growth trajectory as we continue building a robust portfolio of digital infrastructure assets and we expect to expand each of our investment verticals as we go forward.”
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