Stream Data Centers, has announced the formation of a new investment vehicle backed by a leading public pension plan to make wholly-owned investments in data centre opportunities across the United States.
The new vehicle will focus on stabilised and modest value-add opportunities in major U.S. markets where the team believes it can unlock value and manage risk through its vertically integrated data centre operating platform and experienced investment team. This new account continues Stream’s history in data centre investing and momentum in building solutions for its customers, tenants, investors and partners, the company said in a statement.
Mike Armstrong, Managing Director of the Stream investments practice said:
“A key differentiator that helped us win, beyond our long standing track record of successfully investing in and developing data centres, was our people and putting relationships first.”
Stream Data Centers is a subsidiary of Stream Realty Partners, a full service commercial real estate investment, development and services company. With $5.8 billion in annual transactions, Stream Realty Partners is one of the most successful commercial real estate firms in the US.
Michael Wong, also a Managing Director with Stream Data Centers, added:
“We are very excited to partner with such a well-established and experienced real estate investor that shares our view of the long-term attractiveness of data centres as an institutional asset class.”
Stream Data Centers has provided premium data centre services since 1999, with 90% of its inventory leased to Fortune 100 customers. To date, the company has acquired, developed and managed 24 data centre campuses nationally.
Stream develops wholesale colocation capacity and build-to-suit solutions for hyperscale and enterprise users. Additionally, Stream sources low-risk land sites for optimum data centre development, and provides energy procurement services with a focus on reducing market risk and low-cost renewable energy options. All of Stream’s facilities feature carrier-neutral, low latency connectivity to network and public cloud providers.
