StratCap Acquires $35 Million in Data Centers and Cell Towers
StratCap LLC, a privately held alternative investment management platform, announced that its wireless infrastructure division, StratCap Wireless, has completed the acquisition of more than $35 million in data centers and cell towers.
The Santa Clara Data Center is located in Silicon Valley and 100% leased to a wireless carrier. It serves as a network switch facility, supporting major connectivity needs in the region. The property was purpose-built and constructed from the ground up for fiber network switch and data center use.
The St. Louis Data Center is a newly constructed building and 100% leased to two tenants. StratCap says it is a highly secure facility with redundant designs to ensure 100% uptime, meeting the computing requirements of government agencies and major employers in the United States.
“Data centers are an integral component of our digital ecosystem,” Jim Condon, managing partner at StratCap, said. “They serve as mission critical facilities for the tenants that occupy them, and we’re excited to add these dynamic assets to our portfolio.”
In conjunction with the data center acquisitions, StratCap added an additional $35 million credit facility from Sunflower Bank, which the company says it expects to expand over time to help facilitate future acquisitions.
StratCap Wireless also closed on several cell towers, located in Tennessee and Massachusetts.
“We’re very excited about our tower business. Not only are we very active on the acquisition front, but our lease-up activities, including 5G upgrades and new tenant additions, have surpassed our initial underwriting expectations helping to bolster overall tower cash flows,” Scott Riggs, chief operating officer of StratCap Wireless stated.
StratCap is a privately held, global alternative investment management platform that focuses on a range of digital economy investments with an emphasis on digital infrastructure, sustainability and technology-centric sectors.
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