(Bloomberg) — Blackstone is contemplating promoting a pair of AirTrunk knowledge facilities in Sydney and Melbourne, following its acquisition of the corporate in December, in accordance with individuals with information of the matter.
The agency has held talks with advisers because it mulls the divestitures of the 2 stabilized knowledge facilities, which might every fetch roughly A$2 billion ($1.3 billion), mentioned the individuals, who requested to not be recognized discussing confidential info.
Proceeds from any sale of any knowledge facilities could be used to assist fund the corporate’s development, one of many individuals mentioned. AirTrunk has additionally been mulling tapping the asset-backed securities market to fund its enlargement plans.
A proper course of has not but begun, and no last selections have been made, cautioned one of many individuals, including that Blackstone might decide to retain the properties. TMT Finance beforehand reported Blackstone was exploring choices for some AirTrunk property.
Representatives for Blackstone and AirTrunk didn’t instantly reply to requests for remark.
Blackstone and Canada Pension Plan Funding Board agreed to amass the info middle operator from Macquarie Group and PSP Investments final 12 months, in a deal valuing the agency at A$24 billion, together with debt and deliberate capital expenditure.
Information facilities have change into a key goal for traders, given the expansion of synthetic intelligence and steady returns provided by the asset class. The AirTrunk deal marked Blackstone’s largest-ever funding in Asia-Pacific and one of many largest digital infrastructure transactions globally final 12 months.
Blackstone CEO Steve Schwarzman has mentioned the agency is “glad to speculate much more to speed up AirTrunk’s development.”
