DC BLOX Lands $1.1B Green Loan for Atlanta Data Center
The facility is designed to meet the demands of cloud and AI workloads.
DC BLOX has closed $1.15 billion in green loan financing for the development of a data center campus in Douglas County, Ga., the Atlanta-based data center provider announced Monday.
The funding will support the construction of a 120 MW data center, DC BLOX’s Atlanta West Hyperscale Data Center Campus, in Lithia Springs, Ga. The data center reportedly has been designed to meet the demands of cloud and AI workloads.
Initial capacity at the 1.3 million-square-foot campus could be available as soon as 2027, and the campus could be expanded to support an additional 80 MW of capacity.
The site is next to Microsoft’s 300-acre facility and 2.5 miles from Google.
A DC BLOX spokesperson told Commercial Property Executive that construction on Atlanta West is preparing to go vertical: laying footings and conduit, tilt-panel preparation and completing the slab.
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ING Capital LLC served as the structuring and administrative agent. ING, Mizuho Bank Ltd. and Natixis Corporate & Investment Banking (Natixis CIB) served as the initial coordinating lead arrangers and joint bookrunners. First Citizens Bank served as coordinating lead arranger. CoBank ACB, LBBW New York Branch, The Toronto-Dominion Bank New York Branch and KeyBank N.A. served as joint lead arrangers. The Huntington National Bank served as mandated lead arranger. ING and Natixis CIB also served as joint green loan coordinators.
A&O Shearman served as counsel to DC BLOX, and Milbank served as counsel to the lenders, who were not identified.
The Atlanta West project, then known as Project River, broke ground in November 2023. The following month, DC BLOX acquired 72 acres in Conyers, Ga., to develop a two-building, 750,000-square-foot, 216 MW hyperscale-ready data center campus, now designated Atlanta East.
Atlanta now a top-four data center market
Along with Phoenix, Atlanta is a new entrant into North America’s four largest data center markets (alongside Northern Virginia and Chicago), according to a June report from CBRE. Inventory across those four markets jumped by 43 percent year-over-year in the first quarter.
“Atlanta more than tripled its capacity to 1,279.4 MW, driven by hyperscale, AI start-up and enterprise demand,” CBRE reported.
Increases in the average asking data center rents in the Atlanta region were close behind those for Chicago and Northern Virginia, according to CBRE, rising by 13.0 percent year-over-year.
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