Publications

Colony Capital buys into DataBank, enters data center sector
Investors - JANUARY 7, 2020

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Colony Capital buys into DataBank, enters data center sector

by Kali Persall

Colony Capital has invested $185 million in DataBank, a provider of enterprise-class data center, connectivity and managed services, through the purchase of secondary equity interests from investors Edgewater Funds and Allstate.

The transaction represents Colony Capital's first step in investing in the edge/colocation data center sector.

Allstate will retain a 50 percent interest in the company, while Edgewater will fully exit from the investment. Nuveen also will continue to hold a stake in DataBank. As part of the deal, Justin Chang, global head of private equity of Colony Capital, will replace Edgewater's board member.

“We look forward to supporting the business with additional capital to fund potential add-on acquisitions and greenfield edge data center developments,” said Chang.

DataBank operates 20 data centers in nine markets across the United States, including Atlanta, Baltimore, Cleveland, Dallas, Kansas City, Indianapolis, Minneapolis, Pitts

Forgot your username or password?