GI Partners Announces the Acquisition of a Majority Interest in a Hyperscale Data Center Portfolio in the Midwest from Digital Realty Trust

Jul 18, 2023 | News | 0 comments

GI Partners, a leading private alternatives investment firm, has announced the acquisition of a 65% interest in the ownership of two hyper-scale data centres in Elk Grove Village, IL in partnership with Digital Realty Trust

GI Partners is making the investment on behalf of its Essential Tech + Science Fund (GI Partners ETS Fund LP, the “ETS Fund”), the firm’s open-ended core-plus fund. The properties are over 90% occupied, primarily by investment-grade customers, and provide significant connectivity both to the Midwest region and nationally.

In conjunction with the transaction, Digital Realty Trust has retained a 35% interest and will continue to manage the day-to-day operations of the properties. The two properties have approximately 67 megawatts of IT capacity, serving a mix of hyperscale, enterprise and carrier customers.

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“We are excited to announce the formation of a joint venture with one of the leading data center operators in the world and a company that GI Partners helped launch in 2001,” said Rick Magnuson, Founder and Executive Managing Director at GI Partners. “We look forward to our renewed partnership with Digital Realty and growing these assets alongside their team.”

John Sheputis, Managing Director and Head of the ETS Fund, said, “These properties were designed to serve today’s increased dense computer customer requirements and have been exceptionally maintained by a world-class team.” Rahul Chandiok, Principal, added, “The properties are able to provide efficient, high-density solutions for artificial intelligence and machine learning deployments while also providing low-latency connectivity to the Midwest market and to other major data center clusters.”

Since launching in 2021, the ETS Fund has acquired twenty-two properties and is actively investing in a diverse portfolio of data centers, life sciences properties, and “Always On” facilities across key markets in North America.

Source: PR News Wire

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