First CMBS loan brings total capital raised in 2024 to nearly $12 billion
DALLAS, July 15, 2024–(BUSINESS WIRE)–CyrusOne, a leading global data center developer and operator specializing in delivering cutting-edge digital infrastructure solutions, today announced it has secured a $687.1 million single-asset, single-borrower (SASB) CMBS loan for CyrusOne's DFW1 data center, marking the company's first CMBS issuance. This transaction brings the total capital raised by CyrusOne this year to approximately $12 billion.
“Today's announcement is another example of our ability to access significant capital through institutional demand and enter various markets,” said Eric Schwartz, CEO of CyrusOne. “This transaction comes on the heels of our $1.175 billion ABS issuance and CyrusOne securing $9.7 billion in new debt capital to fund its data center growth.”
The DFW1 data center serves more than 100 customers and represents the first single-asset, single-borrower securitized financing of a colocation/enterprise data center since the 2008 financial crisis.
Fran Federman, Executive Vice President and Chief Investment Officer at CyrusOne, added, “This marks CyrusOne's entry into the CMBS market and diversifies our fixed income investor base with strong support from institutional investors. We appreciate the continued support of our fixed income investors. Through this transaction, we have entered a new market that allows us to expand the reach of our durable financing solutions.”
Morgan Stanley acted as lead manager and bookrunner, with Wells Fargo Securities, LLC, Goldman Sachs & Co. and KKR Capital Markets acting as joint bookrunners and joint bookrunners for the offering. Global Infrastructure Partners also worked closely with the company on the transaction.
About CyrusOne:
CyrusOne is a leading global data center developer and operator, delivering sophisticated digital infrastructure solutions across the globe. Headquartered in Dallas, Texas, the company operates over 55 data centers across the United States and Europe. Specializing in comprehensive solutions for hyperscale and Fortune 1000 companies, CyrusOne helps customers align with their unique business and sustainability goals while addressing the complex needs of AI-driven applications and service workloads. CyrusOne's data centers offer unmatched flexibility, enabling customers to modernize, simplify, and rapidly respond to changing demands. CyrusOne offers customized build-to-suit, colocation, and interconnection solutions that meet customers' evolving digital needs. For more information, visit cyrusone.com.
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