Strategic Data Center Fund Manager secured a revolving line of credit that converts into a permanent loan from Sunflower Bank.
The credit facility will initially provide the ability to borrow up to $25 million. Over time, and subject to certain conditions, Strategic Data Center anticipates increasing the size of the facility to aggregate commitments of up to as much as $200 million.
Sunflower Bank expedited the close of the first $25 million of the line of credit to help facilitate the acquisition of a data center property under the timeline of the seller. As Strategic Data Center continues to execute on acquisition opportunities and extend its reach, Sunflower Bank plans to lead a syndication to expand the credit facility and include other lenders with backgrounds in the commercial real estate sector.
“We appreciate the confidence and commitment that Sunflower Bank has made to our company,” Bryan Marsh, CEO of Strategic Data Center, said. “This credit facility provides us with the flexibility to capitalize on the growing number of data center opportunities in our pipeline. It also serves as a testament to the company’s investment thesis, operational strength and ability to execute within the data center real estate arena.”
“We were pleased to work with the management team at Strategic Data Center to meet the company’s financing needs in such a dynamic sector that is vital to our country’s infrastructure,” Neal Arnold, CEO and president of Sunflower Bank, said.
Strategic Data Center is an investment manager and capital partner focused on acquiring, developing and managing data center real estate assets that help support the digital economy, the cloud and mobile computing.