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It plans to focus on data centers across Europe, North America, and Asia Pacific.

Already, it has paid back one of the property's $168 million loan.

Landlords offer 100-square-foot “tech dorms” with shared kitchens and bathrooms for $1,000 a month.

Treasury Secretary Scott Bessent described the program as very important.

The anticipated move led to a KBRA downgrade.

Already, the developer has made its first purchase under the fund in Tampa.

With trades seeing discounts of up to 75%, sellers slash asking prices for prime, but empty properties.

The commitments come from Mubadala Investment Company and CalSTRS.