Stack Infrastructure adds $325 million via securitized notes
Stack Infrastructure, which provides digital infrastructure and services including wholesale build-to suit, colocation, and powered shell offerings in eight markets, says it has issued $325 million of securitized notes at a coupon of 1.893%. The company asserts the coupon is the lowest securitized rate in the data center industry, including the company’s previous record for set by its November, 2019 financing. Combined with the November financing and similar event this past February, Stack says it has raised more than $1.4 billion.
Stack says the COVID-19 pandemic has benefited the digital economy and driven investor interest in data centers. Stack meets the needs of those who seek data center infrastructure and services through three main products:
- Hyper Stack for hyperscale campuses and build-to-suit data centers
- Ready Stack for wholesale colocation and private data suites
- Power Stack for powered shell requirements.
The company currently operates in Northern Virginia, Chicago, Portland, Phoenix, Atlanta, Silicon Valley, Dallas-Fort Worth, and New Albany, OH. Recent acquisitions and projects include:
- A 100% pre-leased 32-MW multi-story data center on its campus in San Jose, CA, currently under construction.
- A 125-acre hyperscale data center campus with 250 MW of potential critical capacity in Prince William County, VA, in partnership with the Peterson Companies.
- A 24-MW, multi-story data center adjacent to its existing facility in Chicago, expected to be ready for service in the second half of this year.
- A more than 80 MW expansion of its Portland data center campus, which is currently under development.
- An 80-acre hyperscale campus in Phoenix, AZ, with access to more than 150 MW of critical capacity
- A 400-acre hyperscale data center campus with 400 MW of potential critical capacity in AllianceTexas, a master-planned development in Fort Worth, TX, in partnership with Hillwood.
- Expansion into New Albany through the acquisition of a purpose-built, Tier III data center. The campus includes development land that has the potential to add 32 MW of capacity.
- Expansion in Atlanta to bring total capacity in that region to 20 MW.
“As the Stack platform has continued to scale, we’ve seen unprecedented levels of investor demand, which stands as a testament to the company’s credible growth strategy and our ability to support the accelerated momentum of the hyperscale and cloud data center market," said Heather Paduck, Stack’s CFO. “We are committed to driving value for our clients above all else, and that partnership continues to fuel our success.”
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About the Author
Stephen Hardy
Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
You can connect with Stephen on LinkedIn as well as Twitter.