2024-04-15
REDWOOD CITY, Calif., April 15, 2024 /PRNewswire/ — Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure firm®, and PGIM Actual Property, the actual property funding and financing arm of PGIM, Prudential Monetary’s world asset administration enterprise, immediately introduced the entry right into a $600 million three way partnership to develop and function the primary xScale knowledge middle in the U.S., positioned within the Silicon Valley area of California.
The 2-story facility, which can be generally known as SV12x, can be constructed out in two phases and is predicted to supply greater than 28 megawatts (MW) of energy capability at full construct out. SV12x is positioned at Equinix’s Nice Oaks knowledge middle campus in San Jose, California alongside 4 current Equinix Worldwide Enterprise TradeTM (IBX®) knowledge facilities. The primary part of the power is scheduled to be accomplished in Q2 2024.
Highlights/Key Info:
- This settlement represents the second three way partnership between Equinix and PGIM Actual Property (see hyperlinks beneath for particulars on the preliminary three way partnership).
- Mixed with Equinix’s current hyperscale joint ventures in Europe, Asia-Pacific and elsewhere within the Americas, this new three way partnership will carry the worldwide xScale knowledge middle portfolio to greater than $8 billion throughout greater than 35 amenities, and an anticipated larger than 725 megawatts of energy capability when accomplished and totally constructed.
- Equinix xScale knowledge facilities allow hyperscale corporations so as to add core deployments to their current entry level footprints at Equinix IBX knowledge facilities, enabling their development on a single platform that may instantly span greater than 70 world metros and supply direct interconnection to an ecosystem of greater than 10,000 clients.
- Below the phrases of the settlement, PGIM Actual Property will management an 80% fairness curiosity within the three way partnership, and Equinix will personal the remaining 20% fairness curiosity.
- PGIM Actual Property has been investing within the knowledge middle sector since 2013. This newest three way partnership settlement with Equinix marks the primary funding made by way of PGIM Actual Property’s devoted world knowledge middle technique, managed on behalf of third-party purchasers, to speculate completely in hyperscale amenities positioned throughout web gateway markets within the U.S., Europe, and Asia-Pacific.
Extra Sources
About Equinix
Equinix (Nasdaq: EQIX) is the world’s digital infrastructure firm®. Digital leaders harness Equinix’s trusted platform to carry collectively and interconnect foundational infrastructure at software program velocity. Equinix permits organizations to entry all the fitting locations, companions and potentialities to scale with agility, velocity the launch of digital companies, ship world-class experiences and multiply their worth, whereas supporting their sustainability targets.
About PGIM Actual Property
With $210 billion in gross belongings beneath administration and administration,1 PGIM Actual Property gives buyers and debtors entry to a spread of actual property fairness, actual property debt, agriculture, and influence options throughout the risk-return spectrum. PGIM Actual Property is a enterprise of PGIM, the worldwide asset administration enterprise of Prudential Monetary, Inc. (NYSE: PRU). PGIM Actual Property’s threat administration method, execution capabilities and business insights are backed by a 50-year legacy of investing in business actual property, a 140-year historical past of actual property financing, 2 and the native expertise of execs in 32 cities globally. By way of its funding, financing, asset administration and expertise administration method, PGIM Actual Property engages in practices that attempt to ignite optimistic environmental and social influence, whereas pursuing actions that search to strengthen communities world wide. For extra data go to pgimrealestate.com.
1 As of Dec. 30, 2023. Web AUM is $134 billion and AUA is $49 billion.
2 Consists of legacy lending by way of PGIM’s mother or father firm, PFI.
Ahead-Wanting Statements
This press launch accommodates forward-looking statements that contain dangers and uncertainties. Precise outcomes might differ materially from expectations mentioned in such forward-looking statements. Elements that may trigger such variations embrace, however should not restricted to, dangers to our enterprise and working outcomes associated to the present inflationary atmosphere; overseas forex alternate fee fluctuations; elevated prices and elevated challenges to obtain energy and the final volatility within the world power market; the challenges of buying, working and setting up IBX® and xScale® knowledge facilities and creating, deploying and delivering Equinix merchandise and options; unanticipated prices or difficulties referring to the mixing of corporations we’ve acquired or will purchase into Equinix; a failure to obtain important revenues from clients in just lately constructed out or acquired knowledge facilities; failure to finish any financing preparations contemplated every now and then; competitors from current and new opponents; the power to generate enough money circulation or in any other case receive funds to repay new or excellent indebtedness; the loss or decline in enterprise from our key clients; dangers associated to potential cybersecurity breaches; dangers associated to our taxation as a REIT and different dangers described every now and then in Equinix filings with the Securities and Trade Fee. Particularly, see latest and upcoming Equinix quarterly and annual stories filed with the Securities and Trade Fee, copies of which can be found upon request from Equinix. Equinix doesn’t assume any obligation to replace the forward-looking data contained on this press launch.
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SOURCE Equinix, Inc.
