Inaugural CMBS financing 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 state-of-the-art digital infrastructure solutions, today announced it secured a $687.1 million Single Asset Single Borrower (SASB) CMBS loan for CyrusOne’s DFW1 data center, the Company’s inaugural CMBS issuance. This transaction brings CyrusOne’s total capital raised this year to nearly $12 billion.
Eric Schwartz, Chief Executive Officer at CyrusOne, remarked, “Today’s announcement is another example of our ability to access large amounts of capital and tap different markets through institutional demand. 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 data center growth.”
The DFW1 data center serves more than 100 customers and is the first co-location/enterprise data center single asset single borrower securitized financing since the financial crisis in 2008.
Fran Federman, Executive Vice President & Chief Investment Officer at CyrusOne, added, “This is CyrusOne’s entrance to the CMBS market, diversifying our debt investor base with strong support from institutional investors. We are grateful to our fixed income investors for their continued support. Through this transaction, we have entered into a new market that will allow us to expand the scope of our permanent financing solutions.”
Morgan Stanley served as Lead Manager and Bookrunner, and Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC and KKR Capital Markets served as Co-Lead Managers and Joint Bookrunners. Global Infrastructure Partners also worked closely with the company in connection with this transaction.
About CyrusOne:
CyrusOne is a leading global data center developer and operator, delivering sophisticated digital infrastructure solutions worldwide. 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 enables customers to align with their unique business and sustainability goals, catering to the complex needs of AI-driven applications and services workloads. CyrusOne’s data centers offer unparalleled flexibility, enabling customers to modernize, simplify, and rapidly respond to changing demands. CyrusOne delivers tailored build-to-suit, colocation, and interconnection solutions that meet the evolving digital needs of its customers. For more information, please visit cyrusone.com.
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