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GIC-Backed Data Ctr. Vehicle Launches

EdgeCore Internet Real Estate initially will develop or acquire $2 billion of data centers across North America; its first project is due for completion in Q4.

Rendering of data center exterior A rendering of a future EdgeCore data center property. Construction on the vehicle’s first project is scheduled to begin in the first quarter.

DENVER—With the goal of developing large-scale campuses across North America, EdgeCore Internet Real Estate LLC has thrown its hat into the data center ring. Led by industry veteran Tom Ray and with key backing by GIC Pte. Ltd., the sovereign wealth fund of Singapore, EdgeCore initially will be capitalized with more than $800 million of equity to support about $2 billion of data center development and investment.

The new vehicle is a partnership of Mount Elbert Capital Partners, Canadian pension fund manager OPTrust and GIC. Its initial roll-out will include campus development across six markets, starting with construction on a 225-megawatt facility in Mesa, AZ that is scheduled to begin this quarter and be substantially complete by the fourth quarter.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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