EdgeCore Digital Infrastructure, a wholesale data center developer, owner and operator, today announced the completion of an asset-backed securitization (ABS), totaling $235 million. Proceeds will be used to refinance construction loans and fund future green data center development.

This issuance is backed by EdgeCore’s fully stabilized PH01 data center, which is comprised of 26 MW of IT capacity and is fully leased to a single hyperscale tenant. PH01 is located on EdgeCore’s flagship data center campus in Greater Phoenix.

“EdgeCore’s rapid, exponential growth continues to be supported by the strong financial backing of our owner, Partners Group, and our ability to raise funds through various financing strategies,” said Julie Brewer, EVP of Finance, EdgeCore Digital Infrastructure. “This ABS transaction demonstrates the strength and stability of our platform, as well as our ability to access capital markets at attractive terms. The proceeds from this ABS will be used to continue our rapid growth and further build EdgeCore’s reputation as the leader in high-density hyperscale data center development.”

“We are pleased to support EdgeCore in this ABS transaction, which is a testament to the strength of their platform and the quality of their assets,” said Nils Rode, Chief Investment Officer, Partners Group. “This transaction demonstrates our ability to leverage our capital markets expertise to deliver attractive financing solutions for our portfolio companies and further highlights the attractive risk-adjusted return profile of digital infrastructure assets.”

The ABS transaction was led by MUFG as structuring agent, with MUFG, Goldman Sachs, and TD Securities acting as book-running managers. Milbank served as counsel to EdgeCore and Partners Group, and Sidley Austin served as counsel to the underwriters.