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They plan to develop four hyperscale data centers in three metro areas across two continents.

The JV launches at a time when capital is scarce.

It has also signed some significant leases in other properties.

The prices these assets fetch are expected to set valuations in New York City and beyond.

The company has been negotiating with more than 400 landlords for the past few months to improve lease terms

There is a $120 million NPL and a $71 million portfolio of nine performing assets.

Bloomberg reports that it was because C&W declined to move its operations into 660 Fifth Ave.

However Google has indicated it will move forward with the projects in other ways.