T5 Data Centers has completed a loan for $113 million to expand its data center in Dallas, the company said this week. With this additional loan, T5 Data Centers has raised a combined $500 million over the past three years.
The loan will be used to expand T5@Dallas Data Center in Plano, Texas, which will ultimately deliver 22.5 megawatts of critical IT load power and house 247,000 square feet of space. The new funding round is being led by JP Morgan Chase Bank and includes investments from Wells Fargo Bank, RBS Citizens Financial Group, and Raymond James.
This is the perfect time to invest in data center expansion,” said Pete Marin, President and CEO of T5 Data Centers. “There is unprecedented demand for new data center capacity as more companies invest in private cloud and expanded enterprise infrastructures. According to Cisco’s Visual Networking Index, a zettabyte of data will cross the Internet in 2016 – that’s 1,024 exabytes or 1.1 trillion gigabytes of data. Companies are looking to capitalize on cloud computing resources to house their data, which is driving demand for high-capacity, custom-built data centers like T5@Dallas. ”
T5 currently offers wholesale data center space in business-critical data center facilities in Atlanta, Los Angeles, Dallas, and Charlotte with new projects announced in Portland and Colorado Springs.
“Market demand and the boom in cloud-based business is driving demand for server-ready facilities, and T5 plans to be at the forefront with affordable, high-performance customizable and turnkey data centers,” said Marin. “We are committed to delivering operational excellence and unsurpassed customer service so our customers can rely on a single source for their enterprise and cloud computing needs. The market is ready for a vendor that can supply extensible enterprise and cloud computing resources as needed.”