Patrizia and CenterSquare are among those to have invested in Aligned Data Centers for its 5GW build-out.
The two companies have invested an undisclosed amount in the data center developer which will support the previously announced $5bn primary equity and $7bn in debt commitments raised in January of this year.
The investment will support Aligned's business plan to build out more than 5GW of data center capacity, particularly in North and South America.
James Muir, head of Patrizia’s investment division, said: “This investment is a prime example of how Patrizia is driving innovation in the RE-Infra asset class. Data centers, such as those developed by Aligned, are critical to the digital economy, and we can capture exceptional value for our investors by investing in Aligned’s growth strategy at a critical inflection point – where the company’s established operational portfolio of data centers and robust pipeline offer immediate returns and significant long-term upside.”
Todd Briddell, CEO and CIO of CenterSquare added: “Partnering with Patrizia on this investment underscores CenterSquare's continued focus on identifying and supporting privately held high-growth real estate companies operating in high-conviction sectors with strong secular tailwinds and a view towards mid-term liquidity.”
CenterSquare previously invested in Aligned last year.
Aligned currently operates campuses in Chicago, Illinois; Dallas, Texas; Phoenix, Arizona; Salt Lake City, Utah; and Northern Virginia. The company has further sites in development in Maryland. Ohio, Illinois, and Virginia.
Outside of the US, Aligned acquired LATAM-based OData in May 2023 and has a footprint in Brazil, Chile, Columbia, and Mexico. It has also invested in Canadian firm QScale.
The company's recent $12bn funding round was led by Macquarie Asset Management and included several "unnamed large global investors." Macquarie Asset Management was already the largest shareholder in Aligned. Macquarie first invested in Aligned in 2018, joining BlueMountain Capital Management.
