Prologis has sold a data center development in Chicago, Illinois to HMC Capital. The industrial real estate giant said the warehouse is held in the US Logistics Fund, a Prologis co-investment vehicle focused on premier logistics real estate, including higher and better-use conversions.
HMC Capital CEO and managing director, David Di Pilla, said: "We are proud to be acquiring this world-class turnkey data center, which is located in a tier one market and underpinned by long-term contracted cash flows. This will be a marquee asset for our newly established DigiCo Infrastructure REIT, which will own an AU$4.3 billion (US$2.75bn) portfolio of data centers in Australia and the United States. The asset is well suited to DigiCo's investment mandate which will target high-quality data center assets across the risk-return spectrum."
"The data center industry is at a pivotal moment, experiencing unprecedented growth fueled by the demands of today's evolving digital economy," said Rob Morris, CEO of Skybox Datacenters. "By leveraging proven development expertise, innovative design partnerships, and deep utility relationships, Skybox and Prologis have delivered a world-class facility in Illinois. Skybox is dedicated to exceeding our customers' expectations as we continue to build our next generation of PowerCampus solutions for the world's largest companies."
