Three expansions and a refinancing:
123NET is bringing big bandwidth to the Northland City Center development in Southfield, Michigan. They will be rolling out 10Gbps residential internet service to the former shopping center-turned apartment complex and its commercial space, which spans 100-acres and 14 buildings. It’s a $402M development project by Contour Construction.
Lincoln Rackhouse has done a deal for an Atlanta data center. They have teamed up with Principal Real Estate Investors to acquire a 185,000 square-foot, 7MW facility on 38-acres in Alpharetta. There is already a design to expand the facility to 13MW as well as the potential to support a separate 30MW data center development. Lincoln Rackhouse already operates an 88,000 square foot facility in Atlanta they purchased 5 years ago.
Xtel is launching its third data center deployment with an expansion in the New York metro area, or more specifically in Newark, NJ. Xtel’s expansion increase’s diversity in their last mile options and adds direct connection options to cloud-based services. The competitive provider’s other two data centers site in Philadelphia PA and Plano TX. We had Xtel’s Brian Flynn here for an Industry Spotlight earlier this summer.
And Infinera has tapped the credit markets for a bit of refinancing. Yesterday the optical vendor completed the sale of $373.75M in new convertible senior notes due in 2028, netting $362.5M for the company’s coffers. Infinera used $283.62M of that to repurchase $300M of their 2.125% convertible notes due in 2024 at a discount. Initially they sought $275M, but found some extra demand out there.
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