DataBank

Recent news

• Jun 16, 2026

  Dallas-Based DataBank Closes $1.45B Financing, Supports Data Center Project in Red Oak

  DataBank has closed two financing transactions totaling $1.45 billion to support corporate needs and construction at its Red Oak data center campus.

  • Main announcement: DataBank closed an $800 million revolving credit facility and a $650 million upsize of its existing construction financing, bringing the Red Oak campus financing to $2.65 billion; the upsize will support construction of the fourth building and add 60 megawatts of incremental IT capacity. The revolver was arranged by a syndicate led by Citizens Bank, N.A., with joint lead arrangers including Citibank and MUFG Bank, Ltd., and the revolver matures in 2031.
  • Background and deal structure: The $650 million upsize consists of $400 million in bank financing and $250 million of notes placed in a private placement (DataBank’s first private placement); MUFG served as administrative agent, coordinating lead arranger, and sole bookrunner for the construction facility and as Lead Placement Agent for the private placement, with TD Securities (USA) LLC and Barclays as Joint Placement Agents, and Citibank, Citizens Bank, N.A., and National Bank of Canada as Co-Placement Agents. A prior April announcement referenced a $2 billion loan for the first three of eight planned Red Oak data centers.
• Jun 16, 2026

  Emerging Power Strategies Transforming AI Data Center Development

  Data Center Frontier reports a set of announcements from Hitachi & X LABS, DataBank, VIVIFY Technology, Flex/EP², Cerberus/S+S Industries, and AZIO AI/EVTV focused on making power the central element of AI data center development.

  • Main announcement/action: Hitachi and X LABS propose dedicated “energy parks” for AI customers in North America, an integrated behind-the-meter, gigawatt-scale power platform combining generation, storage, T&D infrastructure and energy management (first energy park planned for completion early 2030s). Other contemporaneous announcements include DataBank’s 3,150 kW rooftop solar at HOU3 (expected ~4.5 million kWh annually over 25 years), VIVIFY’s modular 1 MW closed-loop hydrogen system (the “Flying Pig”), Flex’s acquisition of Electrical Power Products (EP²) to expand critical power capabilities, Cerberus’ strategic investment in S+S Industries, and the AZIO AI–EVTV merger identifying ~11 MW existing site capacity with hardware ordered for an initial 6 MW and planning up to 500 MW same-site capacity across a controlled 548+ acre footprint.
  • Background and details: The pieces together show layered strategies: gigawatt-class energy parks (long-cycle, capital-intensive) vs. distributed on-site generation (DataBank rooftop solar as an energy hedge), alternative modular power (VIVIFY hydrogen containers nearing deployment), and supply-chain/metalwork investments (Flex/EP² and Cerberus/S+S) to address equipment lead times. Most actions are announced in formal releases or press events and include implementation timelines (e.g., early-2030s for Hitachi/X LABS energy park; DataBank’s 25-year operating life for the rooftop array).
• Jun 1, 2026

  Can Data Centers Ditch Concrete – or Just Use Less of It?

  Equinix and other operators are adopting low-carbon materials and retrofit strategies while acknowledging that mission-critical structural elements will continue to rely on conventional concrete.

  • Main action: Operators including Equinix, DataBank, and WhiteFiber are implementing low-carbon concrete mixes, mass timber for non-critical buildings (Equinix administrative building in Frankfurt; Meta admin building in Aiken County, S.C.), and retrofits (WhiteFiber NC-1 in Madison, N.C.) to reduce embodied carbon while meeting accelerated AI-driven timelines.
  • Background/details: The article documents compute densities of 50–150 kW per rack, the shift to liquid cooling increasing structural demands, the timing constraint (construction schedules compressed from years to months), and Equinix’s three-step framework: Avoid, Reduce, Scale; it also notes emerging carbon capture in cement works in several European markets as a decarbonization pathway.
• May 5, 2026

  New Data Center Developments: May 2026

  Data Center Knowledge published a monthly roundup highlighting global data center project announcements, regulatory moves, and investment commitments driven by hyperscale AI demand.

  • Main announcement: The roundup catalogs multiple concrete project actions including Aligned Data Centers’ Project Caprock (540 MW, 313-acre campus in Hale County, Texas; initial delivery Q1 2027), EdgeCore’s completion of $1.5 billion in financing for two Northern Virginia hyperscale centers, and Yondr Group energizing a 27 MW Toronto facility expected in mid-2026. It also notes major investment commitments such as Digital Realty’s near S$7 billion Singapore plan (S$4.3 billion for new data centers) and AWS increasing planned investment in Mississippi to $25 billion.
  • Context and details: The piece outlines parallel regulatory updates in U.S. states (Maine vetoed a moratorium; Wisconsin revised We Energies tariff rules; North Carolina advanced legislation to require hyperscalers to cover infrastructure costs), workforce and partnership initiatives (Equinix Foundation with ODATA, Cisco, Vertiv launching training in Brazil, cohorts mid-2026), and other regional projects and financings (TikTok €1 billion Finland site; Ark Data Centres >€600 million Barcelona project; Equinix land purchases in South Africa totaling ZAR 890 million).
• Apr 21, 2026

  DataBank Snags $2B Loan To Build First 3 of 8 Data Centers South of Dallas

  DataBank has secured a $2 billion loan to fund construction of the first three of eight data centers at its Red Oak campus south of Dallas.

  • Main announcement: DataBank secured a $2 billion loan (administrative agent and sole bookrunner: MUFG Bank, Ltd.) to build the first three facilities (DFW9, DFW10, DFW11) at the Red Oak campus; the three sites are already leased, will total 600,000 square feet and 180MW of power, and the financing accelerates construction timelines by approximately 18 months.
  • Background and transaction details: The loan is part of recent financings that bring DataBank’s total funding in the past year to $4.7 billion (including a $1.6B credit facility expansion and a $1.1B hyperscale securitization); DataBank said the loan fits its green financing framework with PUE, water conservation, and carbon emissions criteria, and Davis Polk served as legal advisor.
• Apr 9, 2026

  Goodman and DataBank partner on Vernon data center 

  DataBank Holdings and Goodman Group have formed a joint venture to market LAX2, a new 140,000‑square‑foot data center in Vernon, Los Angeles, scheduled to open in December and expand to 32MW by September 2027.

  • Joint venture & project details: The companies announced a JV to market LAX2 at 3094 East Vernon Avenue; the facility is 140,000 square feet, scheduled to open in December with an initial 6MW at launch, and will scale in phases to 32MW by September 2027. Goodman developed the project and acquired the site in 2023; DataBank will operate and market it and will complement its nearby LAX1 (18,000 sq ft, 2MW) site.
  • Background & financing: Goodman currently manages $12.4 billion of work in progress globally; DataBank recently received a $250 million equity infusion from New York‑based TJC LP and previously completed a $2 billion equity raise in 2024 (including $1.5 billion from AustralianSuper). The JV states both parties intend to expand the relationship into additional capacity‑constrained U.S. markets and LAX2 is part of DataBank’s national pipeline exceeding 850MW across multiple U.S. cities.
• Apr 1, 2026

  Leadership Updates: Key Data Center & Cloud Appointments (Q2 2026)

  Data Center Knowledge has launched a new quarterly series highlighting leadership changes across the data center and cloud industries.

  • Main announcement: The roundup catalogs multiple executive appointments across operators and vendors, including Michael Lahoud named CEO of Stream Data Centers (after 15 years with the firm), Stream’s new hyperscale and sustainability hires (Stacy Medeiros, Santiago Suinaga, Oisín Ó Murchú, Rick Crutchley, Amanda Abell), John Bates named EVP of development and power at Prime Data Centers, Gary Wojtaszek appointed executive chairman and interim CEO of Pure Data Centres Group, and Vantage Data Centers’ appointments of Alicia Ruckteschler (CPO) and Scott Beasley (CFO).
  • Background and other details: The article lists additional vendor and advisory hires (e.g., Michael Maiello at Mission Critical Group; Doug Recker as CEO of Duos Technologies; Andrew Lake at Element Critical; Andrew Worley at Skeleton Technologies), cites Pure DC’s recent Europe’s first data center microgrid and >1 GW of capacity live/under development, references CyrusOne’s $15 billion acquisition by KKR and Global Infrastructure Partners, and notes DataBank’s board additions and the editorial contact editors@datacenterknowledge.com.
• Jan 6, 2026

  DataBank CFO Kevin Ooley on Financing for Scale in the AI Era

  DataBank expanded its development credit facility from $725 million to $1.6 billion to fund prioritized data center growth in the AI era.

  • Main announcement & structure: DataBank upsized its primary development credit facility to $1.6 billion (original target $1.2–$1.3 billion; bank appetite reached nearly $2 billion). The facility is a pooled, revolving “Devco facility” led by TD Bank with commitments from 14 original banks plus 6 new lenders, designed to fund multiple projects across stages and free capacity by refinancing stabilized assets into ABS securitizations.
  • Background & project details: The company raised roughly $2 billion in equity in late 2024, has nearly 20 projects underway across 2025–2026 concentrated in priority U.S. markets (Northern Virginia, Dallas, Atlanta), including a 40-megawatt facility in Dallas and a 20-megawatt fully pre-leased deployment in Northern Virginia; equity and debt drawdowns are scheduled to align with construction timelines.
• Oct 27, 2025

  Virginia Faces New Headwinds in Data Center Growth

  DCByte report: Virginia’s data center market is shifting development away from Loudoun County toward counties like Prince William, Henrico, and Culpeper because of zoning changes, power constraints, and community resistance.

  • Main announcement/action: The DCByte report highlights that Loudoun County’s 2025 removal of by-right zoning for data centers and Dominion Energy’s power shortages have slowed automatic approvals, prompting developers to redirect projects to counties with more flexible permitting and available land (e.g., Prince William, Henrico, Culpeper). Key facts: Loudoun zoning change (2025); Dominion contractual commitments rose from 21 GW to 40 GW in 2024; Culpeper’s Technology Zone (CTZ) supports over 1 GW and offers tax incentives.
  • Background and details: Counties are adopting varied responses—Fauquier requires special exceptions for campuses >50,000 sq ft in Vint Hill; Culpeper passed a zoning amendment requiring conditional use permits outside the CTZ. Several projects faced withdrawal or cancellation (e.g., Tract’s 744-acre Chesterfield development withdrawn, AWS abandoned Louisa campus) and developers are phasing construction to match incremental power availability while Dominion upgrades substations and transmission. Also noted: interest in alternative energy (e.g., plans for a small modular reactor at North Anna Power Station).
• Oct 16, 2025

  Pennsylvania’s $70 Billion Race for America’s Data Centers

  Pennsylvania has announced an ambitious $70 billion state-led initiative to attract major AI data center investments and related infrastructure upgrades, unveiled in July at the Pennsylvania Energy and Innovation Summit at Carnegie Mellon University.

  • Main announcement and projects:$70 billion initiative announced in July at the Pennsylvania Energy and Innovation Summit (Carnegie Mellon University, Pittsburgh). Key commitments include $25 billion Aliquippa steel mill redevelopment (Blackstone; joint venture with PPL Corp. on power generation), CoreWeave $6 billion for up to 300 MW in Lancaster, Energy Capital Partners $5 billion at York II Energy Center, PA Data Center Partners & Powerhouse $15 billion three-campus hub near Carlisle with 1.3 GW capacity, and Google/Brookfield 20-year repowering deal for Safe Harbor and Holtwood hydropower totaling 670 MW. The plan also includes workforce development via the Energy Innovation Center Infrastructure Academy and Meta’s $2.5 million investment to CMU’s Schwartz Center for Entrepreneurship.
  • Background and implementation details: The plan is state-coordinated and privately funded (not federally backed like the CHIPS Act). It focuses primarily on power delivery and grid enhancements (rather than direct data center construction), leveraging Pennsylvania’s status as the 2nd-largest U.S. natural gas producer and a major coal producer. The Google-Brookfield arrangement is a 20-year repowering commitment; other projects are announced as multi-billion-dollar investments without explicit completion timelines. Industry sources quoted include Forrester Research (Alvin Nguyen), DVM Power + Control (Bob Ricci), and DataBank (Joe Minarik).