DataBank has closed its largest construction financing to date — a $2 billion loan to fund the first three facilities on its new Red Oak campus in South Dallas. The Dallas Morning News reports that the financing will support construction of three fully leased data centers totaling 600,000 square feet and 180MW of power capacity, part of an eight-building campus planned along Stainback Road roughly 24 miles south of downtown Dallas.
All three initial facilities are already fully leased, underscoring the sustained demand for high-density computing infrastructure from enterprise and hyperscale customers in the region.
“This financing, combined with existing power commitments, accelerates DataBank’s construction and delivery timelines for this campus by approximately 18 months. It ensures our customer will be able to bring critical capacity to market on time and further solidifies Dallas as a core metro for Internet and A.I. infrastructure.”
— Kevin Ooley, President and CFO, DataBank
The loan is structured under DataBank’s “green financing framework,” linking funding to targets for power usage efficiency, water conservation, and carbon emissions reduction. The $2 billion financing follows a $1.6 billion credit facility expansion and a $1.1 billion hyperscale securitization, bringing DataBank’s total financing over the past year to $4.7 billion.
