Cerberus Closes $200M Credit Facility for U.S. Data Center Acquisitions

Prime Data Centers has sealed a $200 million credit facility to finance the acquisition of data center assets in top-tiered U.S. markets, Commercial Observer can first report.

Cerberus Capital Management supplied the funding for the credit facility, which will target centers in Tier 1 and Tier 2 U.S. markets. Prime’s investors for its planned data center purchases include Ares Management (ARES), Siemens and Macquarie Group. 

Newmark (NMRK) arranged the transaction with a debt and structured finance team led by Jordan Roeschlaub, Jonathan Firestone and Ben Kroll. The debt and structured finance team collaborated on the deal with Brent Mayo, who heads up Newmark’s data center and digital infrastructure capital markets team.

A Newmark research report released in January noted growing demand for the sector aided largely by the increased corporate usage of artificial intelligence. 

“Prime’s leadership team has positioned the company to capitalize on unprecedented growth in the data center space, and this credit facility only further supports those efforts,” Mayo said in a statement. “We look forward to continuing to support Prime’s growth as they successfully scale new and existing hyperscale and AI relationships.” 

Officials at Cerberus and Prime did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com