Last month when Equinix agreed to purchase the iconic Infomart Dallas data center, I wondered if there might be more news ahead regarding Infomart Data Centers other three facilities. The other shoe dropped late yesterday in a deal that will see IPI Partners buy all three as well as the management company from ASB Real Estate Investments.
An affiliate of IPI Partners will be acquiring Infomart's data centers in San Jose CA, Hillsboro OR, and Ashburn VA. The three facilities span a total of 665,000 square feet fed by 27.2MW of power, with another 29.7MW to expand into. I can't find much about IPI Partners other than that it is co-sponsored by ICONIQ Capital and Iron Point Partners, two private equity firms. It looks like a platform they are putting together for further consolidation in the data center space, so we may see their name crop up again soon.
Today's Infomart Data Centers was formed by the merger of Infomart Dallas and Fortune Data Centers back in 2014, which quickly announced an expansion project in Ashburn. The deals this year seem to reverse that merger, finding that the assets are worth more apart than together. A year and a half ago, we had Infomart's President John Sheputis here for a spotlight in which he described Infomart Dallas as the interconnection hub for its market and the others as spokes for theirs, requiring different approaches. With that in mind, it makes some sense to do it this way.
Financial terms were not disclosed.