The site originally belonged to Center Point, an investor, developer and manager of industrial real estate, while Post Road Group, a real estate bridge lender and investor in US middle-market telecommunications infrastructure, provided the senior debt for the transaction.
“We are excited about providing New Continuum capital to finance the acquisition of this data centre. We look forward to working with the New Continuum team as they continue to execute their business plan,” said Jason Carney, managing director, Post Road Group.
New Continuum has been leasing the property since 2013 at which point it began a redevelopment project for the building. After which the company began operating a multi-tenant data centre on the premises in 2015 once the initial construction was completed, before adding incremental cooling capacity in the summer of 2018.
“This is a major milestone for New Continuum,” said Eli Scher, founder, chairman and CEO of New Continuum, “When we began this re-development project, it was always our objective to eventually own the underlying real estate asset as well. With this transaction completed, we can now begin the next chapter in New Continuum’s evolution as an owner and operator of this critical data centre.”
In addition to the upgrades already made in the physical facility, New Continuum has invested in recruiting skilled engineers and constructing next-gen connectivity services. The flagship data centre is also Open-IX certified and New Continuum is a member of the Open19 Foundation, a project-based open hardware and software solutions organisation for the data centre industry, as well as the Enterprise Ethereum Alliance, an organisation that focuses on open-source standards-based blockchain specifications.
