The CRE Finance Council (CREFC) has announced the release of the second edition of its “Data Center Primer,” providing an updated examination of the rapidly evolving financing market for data centers and the opportunities and risks facing commercial real estate lenders and investors.
Since CREFC published its inaugural primer in January 2026, the data center financing market has continued to expand and become increasingly complex. The updated report examines the growing use of securitization and secured project bonds, recent regulatory developments, higher borrowing costs, and the power and infrastructure constraints affecting development and financing decisions.
The scale of the market is substantial. As of Oct. 8, 2026, Barclays counted approximately $116 billion of secured project bonds outstanding in the data center sector, alongside $44.2 billion
