{"id":1004770681,"date":"2025-09-05T02:48:34","date_gmt":"2025-09-05T10:48:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004770681"},"modified":"2025-09-05T06:08:39","modified_gmt":"2025-09-05T14:08:39","slug":"blackstones-qts-seeks-600m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-seeks-600m-loan\/","title":{"rendered":"Blackstone&#8217;s QTS Eyes $600M Loan"},"content":{"rendered":"<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\/2024\/05\/QTS-data-center-standard-design-edited.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"683\" height=\"512\" data-attachment-id=\"1004714898\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/qts-data-center-standard-design-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg\" data-orig-size=\"683,512\" 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=\"QTS-data-center-standard-design\" data-image-description=\"&lt;p&gt;Image received from QTS Realty Trust in May 2024&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rendering of QTS PHX3, a 750-megawatt data center project currently underway in metro Phoenix. Image courtesy of QTS Realty Trust&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg?w=683\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg\" alt=\"Rendering of QTS PHX3, a data center project in Glendale, Ariz.\" class=\"wp-image-1004714898\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg 683w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\" \/><\/a><figcaption class=\"wp-element-caption\">Rendering of QTS PHX3, a 750-megawatt data center project currently underway in metro Phoenix. <em>Image courtesy of QTS Realty Trust<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>QTS Realty Trust is seeking to secure a $599.8 million ABS financing package backed by its PHX2DC2 data center project in Phoenix, according to a <a href=\"https:\/\/www.spglobal.com\/ratings\/en\/regulatory\/article\/-\/view\/type\/HTML\/id\/3434670\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">S&amp;P Global presale report<\/a>. <\/p>\n\n\n\n<p>Deutsche Bank will arrange the financing issued by Wilmington Trust. KeyBank is appointed as servicer.<\/p>\n\n\n\n<p>The upcoming loan package is expected to close by the end of this month. It will have a 5-year anticipated repayment date and will mature in 30 years, according to the report.<\/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\/data-center-industry-sets-new-records\/\">Data Center Industry Sets New Records<\/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>QTS Realty Trust will use the note to repay a part of existing debt backed by PHX2DC2. Wilmington Trust previously provided a $625 million loan, according to Maricopa County public records.<\/p>\n\n\n\n<p>The turnkey data center has nearly 36 megawatts of capacity and is fully leased by a single hyperscale tenant under a staggered-maturity agreement spanning four phases, each pursuant to triple-net lease terms. <em>Commercial Property Executive <\/em>reached out to QTS to confirm the tenant, but did not immediately receive a reply.\u00a0<\/p>\n\n\n\n<p>The facility is part of QTS Realty Trust\u2019s multi-building campus currently underway, which will boast a total capacity of 210 megawatts. Dubbed PHX2, the project will include five buildings on 80 acres and will be close to Phoenix Sky Harbor International Airport.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-more-qts-data-center-projects\">More QTS data center projects<\/h2>\n\n\n\n<p>PHX2 marks QTS&#8217; second data center project in the metro. The Blackstone-owned company broke ground on the fifth building within the project in 2023, according to <em><a href=\"https:\/\/www.datacenterdynamics.com\/en\/news\/qts-breaks-ground-on-data-center-in-phoenix-arizona\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Data Center Dynamics<\/a><\/em>. The firm&#8217;s first Phoenix development is a 32-megawatt facility at 120 E. Van Buren St.<\/p>\n\n\n\n<p>Last year, <a href=\"https:\/\/www.commercialsearch.com\/news\/qts-eyes-3rd-phoenix-data-center-campus\/\">QTS expanded its presence<\/a> in the metro with QTS PHX3, a 3 million-square-foot planned data center campus in Glendale, Ariz. The project is set to include 16 facilities with more than 750 megawatts of critical power capacity on 375 acres.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A data center at a 210-megawatt Phoenix campus will back the note.<\/p>\n","protected":false},"author":2991,"featured_media":1004714898,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21808,21825,21742,1601,15],"tags":[32892,38108],"class_list":["post-1004770681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-featured","category-finance","category-latest","category-phoenix","category-west","tag-blackstone","tag-qts-realty-trust"],"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&#039;s QTS Eyes $600M Loan - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"QTS Realty Trust is seeking to secure a $599.8 million ABS financing package backed by its PHX2DC2 data center project in Phoenix.\" \/>\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\/blackstones-qts-seeks-600m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone&#039;s QTS Eyes $600M Loan\" \/>\n<meta property=\"og:description\" content=\"QTS Realty Trust is seeking to secure a $599.8 million ABS financing package backed by its PHX2DC2 data center project in Phoenix.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-seeks-600m-loan\/\" \/>\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=\"2025-09-05T10:48:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-05T14:08:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"683\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\/blackstones-qts-seeks-600m-loan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-seeks-600m-loan\/\",\"name\":\"Blackstone's QTS Eyes $600M Loan - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-seeks-600m-loan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-seeks-600m-loan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg\",\"datePublished\":\"2025-09-05T10:48:34+00:00\",\"dateModified\":\"2025-09-05T14:08:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"QTS Realty Trust is seeking to secure a $599.8 million ABS financing package backed by its PHX2DC2 data center project in Phoenix.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-seeks-600m-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-seeks-600m-loan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstones-qts-seeks-600m-loan\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/QTS-data-center-standard-design-edited.jpg\",\"width\":683,\"height\":512,\"caption\":\"Rendering of QTS PHX3, a 750-megawatt data center project currently underway in metro Phoenix. 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