Stream: Project Liberty

Stream Data Centers is a U.S. data center developer and operator headquartered in Dallas, Texas, founded in 1999. The company develops and operates campuses in Phoenix, the Dallas area and metro Chicago, and it also lists activity in San Antonio and Houston.

Its services include wholesale colocation, private data centers, build to suit facilities, Ready-to-Fit powered shells, location strategy and energy procurement.

Historically an affiliate of Stream Realty Partners, in August 2025 Apollo-managed funds agreed to acquire a majority stake in the company, with closing expected in 2025 subject to approvals.

Stream Data Centers History:

• In August 2025, Apollo-managed funds agreed to acquire a majority stake in Stream Data Centers from Stream Realty Partners; the parties also committed new capital to Stream’s land fund targeting 650 MW of near-term capacity across campuses in metro Chicago, Atlanta, and Dallas, with closing expected in 2025 subject to conditions.
• In June 2024, Stream broke ground on its third San Antonio campus on 135 acres, planned for up to five buildings and approximately 200 MW of IT capacity at full build out.
• In February 2019 and October 2020, Stream entered the Phoenix market by acquiring a 157-acre site in Goodyear anchored by a 418,000 square foot facility, then commissioned the Phoenix I building on that campus; plans call for more than 2 million square feet and an on-site APS substation designed for up to 350 MW.
• 1999: Founded in Dallas, Texas.