{"id":1004733181,"date":"2024-10-17T06:50:42","date_gmt":"2024-10-17T14:50:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004733181"},"modified":"2025-02-26T00:29:09","modified_gmt":"2025-02-26T08:29:09","slug":"databank-raises-2b-in-equity","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/","title":{"rendered":"DataBank Raises $2B in Equity"},"content":{"rendered":"\n

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\"Exterior<\/a>
Last year, DataBank acquired a 95-acre lot in Lithia Springs, Ga., for the construction of ATL5, a 120 MW data center. Rendering courtesy of DataBank<\/em><\/figcaption><\/figure><\/div>\n\n\n

DataBank has obtained $2 billion in equity raise led by AustralianSuper, which committed $1.5 billion. The company also secured an additional $483 million in commitments from existing investors. The deal is scheduled to close by the end of the year.<\/p>\n\n\n\n

This marks AustralianSuper\u2019s first investment in the U.S. and the second alongside existing DataBank investor DigitalBridge. Upon closing, the Australian fund will acquire a substantial minority stake in DataBank and will join the company\u2019s board of directors.<\/p>\n\n\n\n

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READ ALSO:<\/strong> How AI Is Pushing Cloud Data Center Providers to Scale Up<\/a><\/p>\n\n\n\n

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The investment will fund the construction of more than 850 MW of data center capacity across DataBank\u2019s portfolio, as well as diversify the investor\u2019s global digital infrastructure exposure.<\/p>\n\n\n\n

Proceeds will finance the developer\u2019s inventory expansion involving three new campuses announced over the last months. These developments include a 480 MW campus near Dallas, a 192 MW campus in Culpeper, Va., and a 120 MW campus in the Atlanta MSA.<\/p>\n\n\n\n

BofA Securities and Citizens Capital Markets Inc. acted as financial advisors for DataBank. Citi acted as financial advisor for AustralianSuper. Simpson Thacher & Bartlett LLP acted as legal counsel to DataBank and Milbank LLP acted as legal counsel to AustralianSuper.<\/p>\n\n\n\n

In the last year, DataBank raised more than $4 billion in debt and equity. In April, the company established a $725 million credit facility<\/a> to finance ongoing and future data center developments in existing markets. The firm’s portfolio consists of upwards of 65 data centers across more than 27 markets. <\/p>\n\n\n\n

DataBank\u2019s underway data centers<\/h2>\n\n\n\n

DataBank announced the construction of a 480 MW data center campus<\/a> near Dallas earlier this fall. Set to be the firm’s largest project to date, the development will comprise eight two-story buildings across 292 acres and will be constructed in two phases.<\/p>\n\n\n\n

The Culpeper, Va., project was announced last November. Plans called for a campus to host up to three two-story data centers and 1.4 million square feet of space. The site would also include a 300 MW on-site substation from Dominion Energy.<\/p>\n\n\n\n

That same month, DataBank acquired 95 acres in Lithia Springs, Ga., for its new Atlanta-area data center campus. Dubbed ATL5, the 120 MW project<\/a> would comprise two multi-story buildings for hyperscale developments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Proceeds will fund the construction of more than 850 MW of data center capacity.<\/p>\n","protected":false},"author":3355,"featured_media":1004689051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21782,21783,23891,21742],"tags":[33250,33457,40512,36038,34333],"class_list":["post-1004733181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-development","category-investment","category-national","category-latest","tag-bank-of-america","tag-citibank","tag-databank","tag-milbank-tweed-hadley-mccloy","tag-simpson-thacher-bartlett"],"acf":[],"yoast_head":"\nDataBank Raises $2B in Equity - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"DataBank obtained $2 billion in equity raise led by AustralianSuper, which committed $1.5 billion, and $483 million from existing investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DataBank Raises $2B in Equity\" \/>\n<meta property=\"og:description\" content=\"DataBank obtained $2 billion in equity raise led by AustralianSuper, which committed $1.5 billion, and $483 million from existing investors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-17T14:50:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T08:29:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/DataBank-ATL5-Lithia-Springs-Ga-e1699267793660.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1030\" \/>\n\t<meta property=\"og:image:height\" content=\"774\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/\",\"name\":\"DataBank Raises $2B in Equity - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/DataBank-ATL5-Lithia-Springs-Ga-e1699267793660.png\",\"datePublished\":\"2024-10-17T14:50:42+00:00\",\"dateModified\":\"2025-02-26T08:29:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"DataBank obtained $2 billion in equity raise led by AustralianSuper, which committed $1.5 billion, and $483 million from existing investors.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/databank-raises-2b-in-equity\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/DataBank-ATL5-Lithia-Springs-Ga-e1699267793660.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/DataBank-ATL5-Lithia-Springs-Ga-e1699267793660.png\",\"width\":1030,\"height\":774,\"caption\":\"DataBank's ATL5 facility will comprise two multi-story data centers ready for hyperscale deployments. 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