CoreSite: Stonepeak Announces $570m Investment in CoreSite

Oct 31, 2022 | Posted by Abdul-Rahman Oladimeji

Investment company Stonepeak has increased its investment in CoreSite by $570m. The data center company was acquired in 2021 by American Tower Corporation for $10 billion. After the acquisition, Stonepeak invested $2.5 billion in the data center company in the summer. Stonepeak’s new investment now increases its total stake in CoreSite to 36 percent. The deal comprises mandatorily convertible equity and common equity. 

American Tower started by owning and acquiring cell towers. It acquired CoreSite in November 2021 and added three data centers it acquired previously into CoreSite’s data center portfolio. CoreSite currently operates 28 data centers in 11 US data center markets.