Goldman Sachs Lends $130M on Data Center Purchases
By Andrew Coen January 22, 2025 11:30 am
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Australian asset manager HMC Capital and its subsidiary StratCap have landed $130 million of acquisition financing for the purchase of two State Farm-leased data centers, Commercial Observer can first report.
Goldman Sachs (GS) provided the loan on the acquisition of the two properties from DigiCo Infrastructure REIT, a digital infrastructure real estate investment trust by HMC late last year. DigiCo acquired the data center assets 100 percent leased to State Farm in Texas and Kansas for $248 million from the entity JDM III AZ LLC, CO first reported last week.
The properties account for 322,000 square feet of leased space to State Farm at 1402 East Lookout Drive in Richardson, Texas, just south of Plano, and 24400 West Valley Parkway in Olathe, Kan., 23 miles southwest of Downtown Kansas City, Mo.
Newmark (NMRK) arranged the debt transaction with a team led by Jordan Roeschlaub, Clint Frease, Ben Kroll and Nick Scribani. The sale was facilitated by Brent Mayo, Newmark’s head of data center capital markets, and Josh King, Newmark’s executive vice chairman of U.S. capital markets.
The Richardson and Olathe properties were part of a five-building portfolio put on the market last August that Newmark described as “mission critical” facilities, Data Center Dynamics previously reported.
Goldman Sachs, HMC and Newmark did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com
