Strategic Data Center Fund Manager LLC, the data center real estate division of alternative investment sponsor Strategic Capital Fund Management, has secured a revolving line of credit that converts into a permanent loan from Sunflower Bank, a regional bank with $4 billion in assets.
The credit facility will initially provide the ability to borrow up to $25 million. Over time, and subject to certain conditions, Strategic Data Center anticipates increasing the size of the facility to total commitments of up to as much as $200 million.
The company believes the credit line will enhance its ability to continue acquiring and developing a portfolio of data center real estate assets within the U.S.
Sunflower Bank expedited the close of the first $25 million of the line of credit to help facilitate the acquisition of a data center property under the timeline of the seller.
Strategic Data Center indicated that as it continues to execute on acquisition opportunities, Sunflower Bank plans to lead a syndication to expand the credit facility and include other lenders with backgrounds in the commercial real estate sector.
“This credit facility provides us with the flexibility to capitalize on the growing number of data center opportunities in our pipeline,” said Bryan Marsh, chief executive officer of Strategic Data Center.
Strategic Data Center is an investment manager and capital partner focused on acquiring, developing and managing data center real estate assets that help support the digital economy, the cloud and mobile computing.