National scope. Local knowledge.

Ch1 Ch2 data centers

CH1 & CH2 Data Centers

$54,000,000 Refinance, CapEx, TI & LC Financing

Wood Dale, IL | October 2023

Thorofare Capital has provided a $54,000,000 floating rate, senior mortgage loan for CH1 and CH2 Data Centers, a combined 194,395 SF portfolio across two Tier III buildings with a total 4,802kW aggregate proforma load.

Financing proceeds were utilized to retire existing bank debt and fund costs to stabilize the portfolio. The interest-only, structured whole loan carries a total term of three years and includes future-funding towards accretive capital expenditures, tenant improvements and leasing commissions.

The data centers were originally acquired by the sponsor as part of a sale-leaseback. The sponsor then commenced an initial phase of a capital improvement plan which included a significant overhaul of the facilities, including an expansion of the data hall and general building work. The existing tenant base is made up of a diverse mix of 65 unique clients across a range of industries and footprint sizes.

The CH1 and CH2 campus delivers best-in-class data center colocation coupled with true deployment flexibility, from two companion facilities. The portfolio of two data centers were built for disaster recovery services and are known as resiliency leaders, offering powerhouse systems that have never been down in 30 years. CH1 & CH2 offer ultra-low latency connectivity and easy access to Chicago’s global reaching fiber networks from its location. A full suite of business services includes carrier-neutral meet me rooms, newly renovated conference rooms, and ample office space and amenities to support disaster recovery resources.

The sponsor is a global holding company and investment firm that predominately in the United States and Europe. Founded in 2009, the firm has completed more than 40 transactions totaling over $10 billion. The sponsor owns a data center investment platform and operate six data centers across five Tier I and Tier II markets (Silicon Valley, Northern Virginia, Chicago, Austin, and Houston) which serve 200+ tenants.