JPMorgan Chase will provide debt financing for a new data center in Austin, Texas being built by colocation provider Data Foundry, the companies said today. JPMorgan Chase Bank, N.A. will be the sole lender for the company’s Texas 1 facility, the first segment of a 40-acre, 100-megawatt data center campus known as the Data Ranch. The amount of the funding was not announced.
The first phase of the two-phase project includes 130,000 square feet of data center and disaster recovery space and is planned for completion in the second quarter of 2011. Data Foundry owners Carolyn Yokubaitis, Ron Yokubaitis, Jonah Yokubaitis and Edward Henigin have provided the equity financing and secured all commitment requirements for the funding.
"We are constructing our master-planned data center campus in response to the growth of existing clients and to meet the demand of companies throughout the world that require secure and fully redundant colocation for their mission critical data," said Carolyn Yokubaitis, co-founder and Co-CEO of Data Foundry. "After an extensive one year process to determine the optimal funding partner, Data Foundry chose Chase due to its phenomenal leadership in the financial sector, competitive pricing, and high quality of service."
“This financing will enable Data Foundry to build a first-class facility that will allow for long-term growth and expansion,” said Gabe Terrazas, Senior Chase Banker in Austin.
Data Foundry provides wholesale data center space, colocation and disaster recovery services. Founded in 1994 as Texas.Net, Data Foundry was the first Internet Service Provider in San Antonio and one of the first 50 ISPs in the United States.