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Atlanta Data Center
$29,210,000 Refinance, CapEx & TI/LC Facility
Alpharetta, GA | May 2021
Thorofare Capital has funded an intermediate-term whole loan for the refinance of an N+1 redundant, 185,000 SF Data Center which was originally purpose-built in 2009 on behalf of a global enterprise user.
Thorofare’s loan refinanced existing bank debt, funded reserves for the future carrying costs of the property, capitalized a renovation program and a committed a TI/LC facility towards “good news” leasing initiatives.
The LEED-Gold, Tier-III Data Center is located in the greater Atlanta, Georgia area and features an enterprise-grade, highly secure raised floor area available across two main halls, to be deployed to customer-specific data center requirements.
The Atlanta Data Center has up to 8.1 MW power across two halls situated on a 38 acre campus that is expandable up to 30 MW of critical power via entitled excess land that may accommodate an additional building.
The non-recourse, interest-only bridge loan carries an initial term of three years and includes two additional performance-based extension options. The financing allows for prepayment flexibility and closed in less than 30 days from signed term sheet to funding.
The sponsor is a joint venture between an institutionally-backed investment manager and is a leading provider of customer-driven solutions in the development, engineering, construction and operations of data centers and critical facilities.