{"id":1004757744,"date":"2025-05-13T23:42:23","date_gmt":"2025-05-14T07:42:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004757744"},"modified":"2025-05-19T06:43:24","modified_gmt":"2025-05-19T14:43:24","slug":"blackstone-lends-925m-for-data-center-expansion","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-lends-925m-for-data-center-expansion\/","title":{"rendered":"Blackstone Lends $925M for Data Center Expansion"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/SLC-01-e1747139969935.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"1332\" height=\"1000\" data-attachment-id=\"1004757757\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-lends-925m-for-data-center-expansion\/slc-01-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/SLC-01-e1747139969935.jpeg\" data-orig-size=\"1332,1000\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"SLC-01\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;SLC-01 is a data center facility part of Aligned Data Centers&#8217; campus in West Jordan, Utah. Image courtesy of Aligned Data Centers&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/SLC-01-e1747139969935.jpeg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/SLC-01-e1747139969935.jpeg\" alt=\"Exterior shot of SLC-01, a data center facility part of Aligned Data Centers' West Jordan Campus.\" class=\"wp-image-1004757757\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/SLC-01-e1747139969935.jpeg 1332w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/SLC-01-e1747139969935.jpeg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/SLC-01-e1747139969935.jpeg?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/SLC-01-e1747139969935.jpeg?resize=1024,769 1024w\" sizes=\"auto, (max-width: 1332px) 100vw, 1332px\" \/><\/a><figcaption class=\"wp-element-caption\">SLC-01 is a data center facility part of Aligned Data Centers&#8217; campus in West Jordan, Utah. The company obtained financing from Blackstone last year.<em> Image courtesy of Aligned Data Centers<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>King Street&#8217;s Colovore has obtained $925 million in debt financing from Blackstone. The funds will be used for the development of new liquid-cooled data centers across major markets, starting with Reno, Nev., Chicago and Austin, Texas.<\/p>\n\n\n\n<p>The operator of ultra-dense, liquid-cooled data centers built for AI infrastructure has more than a decade of experience in supporting next-generation chips. Designed with purpose-built infrastructure for high-performance computing workloads and machine learning, Colovore\u2019s facilities feature power densities ranging from 17 kilowatts to more than 200 kilowatts per cabinet.<\/p>\n\n\n\n<p>Colovore\u2019s data centers also have smaller footprints and improved efficiency, allowing for the support of both traditional enterprise hardware and advanced AI accelerators. The company is the world\u2019s first NVIDIA DGX-certified data center provider.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/this-market-tops-the-nation-for-data-center-absorption\/\">This Market Tops the Nation for Data Center Absorption<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>King Street Capital Management acquired a majority ownership stake in Colovore last year in May, allowing further support and expansion of the data center provider while also growing its <a href=\"https:\/\/www.commercialsearch.com\/news\/more-data-centers-please\/\">data center investment<\/a> platform. <\/p>\n\n\n\n<p>Founded in 2012, Colovore developed its first all-liquid-cooled facility in Santa Clara, Calif. Since partnering with King Street, the company launched its second Silicon Valley data center and started construction on two other ones, in Reno, Nev., and Chicago. <\/p>\n\n\n\n<p>The developments are expected to come online in 2026 and 2027, respectively. Upon delivery, each 20 megawatt facility will include spacious racks, heavy-floor loading capacity and high-speed direct access to Tier 1 carriers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-blackstone-s-data-center-investments\">Blackstone&#8217;s data center investments<\/h2>\n\n\n\n<p>Blackstone has been a constant investor in the data center industry in recent years. <\/p>\n\n\n\n<p>In late 2023, the company formed a joint venture with Digital Realty for the development of four data centers in Northern Virginia, Paris and Frankfurt. At the time, the partnership estimated a $7 billion investment over several years.<\/p>\n\n\n\n<p>Last year in March, Blackstone Credit &amp; Insurance, <a href=\"https:\/\/www.commercialsearch.com\/news\/aligned-data-centers-lands-600m-from-blackstone\/\">provided a $600 million credit facility<\/a> to Aligned Data Centers. The initial funds were used for a data center project near Salt Lake City.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Colovore will use the funds for the development of liquid-cooled data centers across major U.S. markets.<\/p>\n","protected":false},"author":2991,"featured_media":1004757757,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21782,21825,23891,21742],"tags":[32892,36293],"class_list":["post-1004757744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-development","category-finance","category-national","category-latest","tag-blackstone","tag-king-street-commercial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone Lends $925M for Data Center Expansion - 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