Stonepeak partners with CoreSite for Colorado data center

Infrastructure investment firm Stonepeak  this week announced that it has formed a joint venture with American Tower subsidiary CoreSite to develop, construct, and operate an 18MW data center in Denver.   Stonepeak is expected to hold 85 percent of the equity of the CoreSite DevCo JV, with CoreSite holding the remaining 15 percent. 

 Andrew Thomas, senior managing director at Stonepeak, said: “We are excited to continue our long-term partnership with the American Tower and CoreSite teams to help accelerate investment behind key digitalization tailwinds. We believe the CoreSite DevCo JV will immediately benefit from CoreSite’s leading interconnection platform in the fast-growing Denver market through dedicated dark fiber to CoreSite’s existing facilities, which provides DE3 customers with differentiated access to an established ecosystem on Day 1.”

Steven Vondran, American Tower president and CEO, added: “We are pleased to continue our partnership with Stonepeak in our US data center platform, with the formation of a new joint venture to construct a new data center in the growing Denver market. The CoreSite DevCo JV enables us to strategically execute on key growth opportunities by expanding our data center campus model in the region and create value by capitalizing on demand tailwinds as the primary interconnection hub in Denver.”