KeyBank Provides Credit Facility to Compass Datacenters
Compass Datacenters said it has completed its first major round of financial funding: a $45 million credit facility with an accordion feature of up to $100 million from KeyCorp’s commercial finance unit, KeyBank.
This is the company’s first formal round of funding since the company began operations earlier this year, and it will be used to finance its aggressive growth plan over the coming months.
“Compass Datacenters is pioneering a major area of growth for the data center industry by offering wholesale standalone data center products that meet the needs of companies that are in geographic areas that are not well served by traditional providers. They have assembled a strong management team comprised of executives with proven track records in data centers and real estate development. Their wholesale business model and proprietary design architecture have the company positioned to be the leader in this growth market,” said John Murphy, managing director of real estate capital at KeyBank.
Dallas, TX-based Compass Datacenters builds and operates standalone data centers, which provide customers with dedicated wholesale solutions where they need them.