Data Center Finance: Cologix Secures Debt Funding For Expansion
Colocation services provider Cologix recently secured $225 million in debt capital. The money is in credit facilities and will go toward the expansion of the company's data centers. With the capital, Cologix hopes to continue its investment in data center real estate across the U.S. by expanding current facilities and purchasing others. For instance, the company purchased Colo5 in 2014, increasing its footprint with two Florida data centers totaling 225,000 square feet.
"The expanded credit facilities further empower Cologix to provide industry leading interconnection-focused colocation in the markets we serve," said Brian Cox, Cologix chief financial officer. "This financing augments Cologix's robust balance sheet and cash flows to provide capital for further organic and inorganic opportunities driving our growth. We appreciate our lending institutions for their support."
The company, which focuses on interconnection between its data centers as part of its offering, already has 21 facilities in the U.S. in eight markets. Those facilities include three Minneapolis data centers and two Columbus data centers. Cologix also has a presence in Canada, with two Toronto data centers and two Vancouver data centers.
Brought to you by WiredRE, the nation's leading cloud, colocation, and data center advisory firm.