A trio of investors led by GIC, the sovereign wealth fund developed by the Government of Singapore, has produced a brand-new financial investment car to establish and acquire data centers throughout North America. The investors have actually offered an inital $800 million of equity to capitalize the endeavor right out of the gate with a target of making $2 billion in data center development and financial investment.
The other financiers in freshly formed EdgeCore Web Realty LLC consist of Mount Elbert Capital Partners, a Denver-based private investment firm, and OPTrust, a Toronto-based global investor.
Tom Ray, chairman and CEO of Mount Elbert, will lead EdgeCore Internet Realty.
EdgeCore Web Property’s initial roll out will include information campus developments throughout 6 markets.
The business has acquired land in Mesa, AZ, and prior to the end of this quarter, the company prepares to close on other sites it has under agreement in Dallas and Reno and begin building and construction instantly upon acquisition with strategies to finish the first structure in these markets by late 2018.
In addition, in the 2nd quarter of this year, EdgeCore prepares to pursue acquiring development websites in three other Tier I markets. It stated it is lookinig in Northern Virginia, Silicon Valley and Chicago.
Lee Kok Sun, primary investment officer of GIC Property, stated, “As a long-lasting value investor, our company believe the nonreligious development in information consumption and public cloud usage will produce attractive returns in the data center sector.”