QuadReal Property Group and T5 Data Centers are expanding their data center venture. The companies this week announced the expansion of their joint platform to fund the next phase of strategic growth to the tune of $8 billion. Formed in 2019 and jointly owned by QuadReal and T5 principals, the platform has developed facilities across the US, including Silicon Valley, Hillsboro, Chicago, Atlanta, and Charlotte.
The companies said the new investment will help the Platform meet its growing customer demand and support the development of a new Scaled Campus strategy, which aims to build out some 5GW of capacity.The new platform will continue to operate under the name of T5 Data Centers.“Digital infrastructure has been a strategic area of conviction for QuadReal since 2019 and we remain very enthusiastic about demand growth, driven by the large installed base of cloud, continued cloud adoption, and the advancement of AI,” said Jamie Weber, head of Americas at QuadReal. “We are excited to leverage our platform with T5, and their trusted capabilities, to deliver scaled cutting-edge data center solutions to the market.”
“This additional investment from QuadReal is another step that enables T5 to pursue its ambitious Scaled Campus strategy supplying AI and Cloud-ready data center capacity to the world’s most sophisticated technology companies,” said Pete Marin, CEO of T5. Founded in 2008, T5 develops build-to-suit data centers across the US. It has a presence across Chicago, Illinois; Atlanta, Georgia; Los Angeles, California; Hillsboro, Oregon; Dallas, Texas; Charlotte, North Carolina; and beyond. The company recently announced plans to develop multiple gigawatt-scale campuses, starting with a site outside Chicago, Illinois. The site in Grayslake is set to support 20 60MW buildings, with the first phase due live in 2027. Based in British Columbia, QuadReal Property Group is a global real estate investment, operating, and development company with $89 billion in assets under management. It is wholly owned by British Columbia Investment Management Corporation. The two companies announced the $2.5 billion joint venture under the T5 name back in 2019 to develop and acquire enterprise and hyperscale Data Centers.T5 was advised by Greenhill & Co. and Eversheds-Sutherland. QuadReal was advised by Paul Hastings.
