{"id":12646,"date":"2025-06-25T05:05:17","date_gmt":"2025-06-25T05:05:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/12646\/"},"modified":"2025-06-25T05:05:17","modified_gmt":"2025-06-25T05:05:17","slug":"vantage-lands-735m-loan-to-refinance-new-phoenix-campus","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/12646\/","title":{"rendered":"Vantage Lands $735M Loan To Refinance New Phoenix Campus"},"content":{"rendered":"

Vantage Data Centers<\/a> has obtained\u00a0a $735M loan from three major banks to refinance a trio of adjoining data centers near Phoenix.<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Phoenix\n <\/p>\n

Wells Fargo<\/a>, Citibank, and Goldman Sachs<\/a> originated the five-year, fixed-rate loan to Vantage, backed by three fully leased, single-tenant data centers in the firm\u2019s Goodyear, Arizona, campus, according to a Fitch Ratings report<\/a>.<\/p>\n

The loan will be used to refinance the $560M of existing debt on the three data centers, which offer a combined capacity of 64 megawatts across 496K SF. The remaining proceeds will pay estimated closing costs of $10.5M and return $164.5M in equity to Denver-based Vantage.\u00a0\u00a0<\/p>\n

Vantage didn’t respond to Bisnow\u2019s request for comment.<\/p>\n

The banks are working to sell the loan as a commercial mortgage-backed security, and the deal is scheduled to close July 10, the Fitch report says. Trimont is slated to be the master servicer for the CMBS trust.<\/p>\n

The\u00a0three two-story data centers backing the loan occupy 24.4 acres of Vantage\u2019s 50-acre campus in Goodyear, a suburb roughly 19 miles west of Phoenix\u2019s central business district that has emerged as a key digital infrastructure hub in the booming Phoenix data center market.<\/p>\n

Directly across the street from the Vantage property,\u00a0Compass Datacenters<\/a> is building a 242 MW campus on 190 acres.<\/p>\n

Vantage’s Goodyear data centers were developed in six phases between 2023 and 2024 and purpose-built for the single tenant that occupies all three buildings. While the tenant’s identity hasn’t been disclosed \u2014 a common practice in the data center industry \u2014 the Fitch report identifies the lessee as AAA-rated, suggesting it may be one of the Big Tech hyperscalers<\/a>\u00a0that have dominated data center leasing.\u00a0<\/p>\n

The tenant\u2019s occupancy in Goodyear is through six separate 15-year leases with a weighted average remaining lease term of 13.9 years. All six leases commenced at $89 per kilowatt per month with 1.75% annual escalations, placing current rent at 18.6% below market value, according to Fitch. Tenant extension options are\u00a0also included in the lease that could stretch the average lease term to more than 25 years.\u00a0<\/p>\n

Additionally, the same tenant has preleased a 64 MW data center under construction at Vantage\u2019s Goodyear campus and retains an option for a 48-megawatt facility planned for the property. Neither of those data centers is tied to the new\u00a0loan.\u00a0<\/p>\n

The Goodyear campus is the only Phoenix-area outpost for Vantage, one of the world\u2019s largest third-party data center providers focused primarily on the hyperscale market. Backed by investors like DigitalBridge<\/a>, Silver Lake, AustralianSuper<\/a> and PSP Investments<\/a>, the company operates a global portfolio of around 2.6 gigawatts, with 22M SF of data center space across 34 campuses.<\/p>\n

This month, Vantage has already raised nearly $6B through a pair of separate transactions to fund its continued expansion, securing\u00a0$5B in green loans<\/a> to support its North American build-out and\u00a0raising $820M<\/a> through an asset-backed securitization tied to its German data centers. In the U.S., the firm\u2019s ongoing projects include a\u00a0192 MW campus<\/a> near Columbus, Ohio, a\u00a0618-acre site<\/a> in Pittsboro, Indiana, and a new development\u00a0announced this month<\/a> in Port Washington, Wisconsin.\u00a0<\/p>\n

Vantage\u2019s expanding campus in Goodyear is part of a wave of data center development flooding into the Phoenix area \u2014 a region where\u00a0data center inventory jumped 67% in 2024, according to CBRE<\/a>. All of that new capacity was absorbed. The region is now the fourth-largest data center market in the U.S. with 617\u00a0MW of total capacity.\u00a0<\/p>\n

As of the end of last year, Phoenix had 176\u00a0MW of new data center space under construction, with more than 87% of it preleased. The market\u2019s overall vacancy rate was cut in half to 1.7% in the first quarter,\u00a0CBRE reports<\/a>\u00a0\u2014 an indicator of strong leasing activity.<\/p>\n","protected":false},"excerpt":{"rendered":"Vantage Data Centers has obtained\u00a0a $735M loan from three major banks to refinance a trio of adjoining data…\n","protected":false},"author":3,"featured_media":12647,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5131],"tags":[5229,5643,13243,1587,13242,13246,862,1589,13244,67,586,132,5230,68,2969,13245,13241],"class_list":{"0":"post-12646","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-phoenix","8":"tag-america","9":"tag-arizona","10":"tag-australiansuper","11":"tag-az","12":"tag-citibank","13":"tag-digitalbridge","14":"tag-goldman-sachs","15":"tag-phoenix","16":"tag-psp-investments","17":"tag-united-states","18":"tag-united-states-of-america","19":"tag-unitedstates","20":"tag-unitedstatesofamerica","21":"tag-us","22":"tag-usa","23":"tag-vantage-data-centers","24":"tag-wells-fargo"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114742265646038794","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/12646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=12646"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/12646\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/12647"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=12646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=12646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=12646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}