Transaction and financing research

Asset Interest Acquisition Consideration

Digital Realty consideration for Blackstone interests in three Northern Virginia facilities: approximately USD1.231 billion cash plus shares; gross value USD7.8 billion including debt and remaining capex.

• Blackstone · Other
• Digital Realty Trust · Other

Financing reference 93

Equity Investment

Proposed 25% interest in the entity acquiring the Midwest property.

• Fluidstack · Sponsor

Financing reference 208 · Phase PHS-1371

Investment Commitment

SEC-reported total expected investment for the 10 MW AMS-1 Phase 4 expansion; not a facility valuation or debt instrument.

• Iron Mountain Data Centers · Borrower

Financing reference 183 · Phase PHS-1146

Investment Commitment

SEC-reported total expected investment for LON-3 future phases; not a debt financing or current facility valuation.

• Iron Mountain Data Centers · Borrower

Financing reference 185 · Phase PHS-1152

Investment Commitment

SEC-reported expected development investment for MIA-1; not a debt financing.

• Iron Mountain Data Centers · Borrower

Financing reference 186 · Phase PHS-1156

Investment Commitment

SEC-reported expected investment for the 4 MW NJE-1 expansion; not a facility valuation.

• Iron Mountain Data Centers · Borrower

Financing reference 184 · Phase PHS-1150

Strategic Compute Supply And Revenue Sharing Agreement

Agreement through 2034 with revenue sharing and credit support; USD 25-30 billion is expected customer offtake, not financing proceeds.

• Firmus Technologies · Compute Operator
• NVIDIA · Technology And Revenue Share Counterparty

Financing reference 102

20-Year Power Purchase Agreement

Long-term power agreement between Energy Forge One and Microsoft; price and committed offtake undisclosed.

• Chevron · Parent Sponsor
• Energy Forge One LLC · Power Seller
• Microsoft · Power Buyer

Financing reference 97 · Phase PHS-0571

Debt Financing

Incremental $650 million upsize: $400 million bank financing and $250 million notes, supporting fourth building. Resulting campus financing is $2.65 billion. MUFG was Lead Placement Agent for the note portion. Excludes separate $800 million corporate revolver; not extra capex.

• MUFG · Arranger

Financing reference 357

Planned Project Investment

Site-specific campus investment plan; financing instrument, draw schedule and lender group not disclosed.

• Brookfield Asset Management · Platform Equity Sponsor
• DATA4 Group · Developer / Sponsor

Financing reference 106 · Phase PHS-0587

Debt Financing

Nomura financing for Phase 1; amount, tenor, security and borrower undisclosed.

• Digital Decarbonization Solutions Platform · Borrower
• Digital Decarbonization Solutions Platform · Developer Financing Recipient Role
• Nomura · Lender

Financing reference 35 · Phase PHS-0113

Investment Commitment

Platform financing supporting multiple markets including Japan; no Fuchu allocation.

• DayOne Data Centers · Sponsor

Financing reference 170

Investment Commitment

Reported restart-cost estimate; not an executed debt or equity facility.

Financing reference 55 · Phase PHS-0201

Debt Financing

Beacon Point Phase 1 data center and substation construction.

• Hut 8 · Sponsor

Financing reference 211 · Phase PHS-1404

Investment Commitment

Siemens turbine and generator equipment

• Hallador Energy · Borrower

Financing reference 173 · Phase PHS-0976

Planned Development Investment Envelope

Up-to amount for the physical campus; FT reported approximately one-third equity and two-thirds debt, with lenders undisclosed.

• Ardian · Equity Sponsor
• Verne · Developer / Investment Vehicle

Financing reference 111

Planned National AI Infrastructure Investment

Program envelope up to EUR 75 billion; first phase EUR 45 billion across three sites.

• SoftBank Group Corp. · Program Sponsor

Financing reference 100 · Phase PHS-0576

Announced Program Investment Envelope

First-phase investment across Dunkirk, Bosquel and Bouchain; not Bouchain-specific project financing.

• SoftBank Group Corp. · Sponsor

Financing reference 104 · Phase PHS-0576

Community Endowment Commitment

Planned community endowment jointly managed with Hauts-de-France interests; not construction financing.

• Sesterce · Community Commitment Partner
• SoftBank Group Corp. · Community Commitment Sponsor

Financing reference 101 · Phase PHS-0577

Corporate Financing Facility

Pure DC corporate-level facility; may support growth across the platform but no AUH01 allocation is disclosed.

• ABN AMRO · Named Financing Institution
• Allianz Global Investors · Named Financing Institution
• Pure Data Centres Group · Borrower
• SMBC · Named Financing Institution

Financing reference 134

Investment Commitment

Later approximately USD 45 million initial-investment wording; unresolved against USD 94 million and never summed.

• Equinix, Inc. · Sponsor

Financing reference 39 · Phase PHS-0118

Investment Commitment

Announced PHX01 investment.

• Prime Data Centers · Sponsor

Financing reference 243 · Phase PHS-1515

Investment Commitment

More-than amount for Prime's campus investment; no debt/equity close or customer spend allocation recorded.

• Prime Data Centers · Sponsor

Financing reference 31

Commercial Contract

Current corrected contract amount, excluding VAT, payable monthly by progress. It is a construction contract value, not evidence of project-level debt financing.

• Digital Seoul 2 Ltd. · Other
• DL E&C · Other

Financing reference 145 · Phase PHS-0837

Combined Sponsor Capital Program

Combined MXP1/MXP2 Milan capital deployment; no campus split.

• Aquila Group · Minority Equity Sponsor
• Bain Capital · Sponsor
• HSCALE · Developer

Financing reference 96