Data Center Finance: Fortune Data Centers Merges With Dallas Infomart

Fortune Data Centers announced in early October that it would be combining resources and assets with the Dallas Infomart Texas data center to form a single operating company controlled by Fortune's management team. Going forward, the newly created company will be known as Infomart Data Centers.

Both Fortune and the Infomart are wholly owned by ASB Allegiance Real Estate Fund. The Fund, which is part of ASB Capital Management, one of the country's oldest and largest money management firms, is worth $5 billion.

Infomart Data Centers will be in charge of managing more than 2 million square feet of data center space with more than 100 MW of electrical capacity. Included in the company's large portfolio is the Infomart itself, one of the largest and most interconnected facilities in the world. The Infomart boasts more than 1.6 million square feet and offers data center services for major colocation providers like Equinix, ViaWest, Cologix and NTT America. The newly formed company will also operate a San Jose data center, a Portland data center and a new Virginia data center currently being built in Ashburn.

John Sheputis, CEO of Infomart Data Centers, said the merger was partially fueled by the growing customer interest in providers operating facilities in multiple locations and having the ability to grow with a client.

"After building a national portfolio of some of the industry's most successful data center properties, we reached a scale where it made sense to form an extremely well?capitalized operator, backed and owned by the Fund, to manage our assets on a national basis in the best interests of our investors and tenants," said Sheputis.

The merger enables Infomart Data Centers to become a national player within the industry, with presence in some of the largest markets in the country.