Exclusive: GI Partners Pays $222M for 2 Baltimore Facilities
Capital One Bank provided a $113 million acquisition loan.
GI Partners has paid a combined $221.9 million for two data center facilities located in the Baltimore metro area, according to Yardi Matrix information. Harrison Street sold the 2022-completed assets.
The traded properties include:
• Sandy Farms Data Center, a 109,455-square-foot facility in Severn, Md.
• Eternal Rings Data Center, a 110,336-square-foot data center in Laurel, Md.
Capital One Bank provided a $113.4 million acquisition loan for the portfolio purchase, according to Anne Arundel County public records.
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Harrison Street developed Sandy Farms Data Center with the help of a $58.2 million construction loan issued by Wells Fargo Bank in 2022, Yardi Matrix shows. Initial plans for the site called for a 2.2 million-square-foot campus.
The Severn facility rises on a 50-acre site at 7665 Sandy Farm Road, close to Interstate 97 and some 14 mile from downtown Baltimore. The Laurel property occupies a 43-acre site at 9800 S. Eternal Rings Drive, some 20 miles from downtown Baltimore.
GI Partners’ digital infrastructure moves
GI Partners has been a leading investor for over 20 years in data infrastructure. Its data center investment platform, dubbed GI Data Infrastructure, focuses on four subsectors: data centers, data transport, wireless access and tech-enabled infrastructure.
The firm is also a co-investor in data center operator Flexential, which completed the acquisition of a data center in Norcross, Ga., last May. At the time, the 1.8-megawatt, 32,740-square-foot facility served as Flexential’s hub for cloud and data protection in Atlanta, and had a planned 40,000-square-foot expansion.
A month earlier, GI Partners sold DRFortress, the largest carrier-neutral data center in Hawaii. Harrison Street and fifteenfortyseven Critical Systems Realty are the facility’s new owners.
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