CyrusOne Secures $687.1 Million Commercial Mortgage-Backed Security (CMBS) Financing
July 15 2024 - 4:30PM
Business Wire
Inaugural CMBS financing brings total capital
raised in 2024 to nearly $12 billion
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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Chelsi Smith csmith@piercom.com