Serverfarm Completes $589m ABS Offering

Data center infrastructure developer Serverfarm has closed its first asset-backed securities (ABS) offering at $589 million. The transaction was secured by three data center facilities: in Atlanta, a 153,000 sq ft (14214 sqm) facility with 12MW of critical IT capacity; a 300,000 sq ft (27,870 sqm) AI-ready Chicago facility with 21.3MW of critical IT capacity; and a Los Angeles facility with 17.5MW of critical IT capacity.

“This inaugural ABS issuance validates Serverfarm’s track record of delivering world-class hyperscale infrastructure with operational excellence,” said Avner Papouchado, CEO of Serverfarm. “The strong investor response reflects confidence in our stabilized asset performance and our proven ability to develop and operate mission-critical data center facilities supporting the world’s leading cloud providers and AI innovators.”

Recep Kendircioglu, global head of infrastructure, Manulife Investment Management, added: “Capital recycling is a critical component of Serverfarm’s financing strategy and sustainable growth plans. The company’s proven ability to secure financing at attractive rates across capital markets is a testament to the strength of Serverfarm’s platform and institutional capabilities.”