Grain Management, StratCap join to buy Toronto data center
Investment firm Grain Management, LLC says it has partnered with digital infrastructure investor StratCap to buy a data center facility at 55 Hereford Street, Brampton, Ontario, Canada. StratCap will have the minority stake but will manage the overall facility. Financial terms of the acquisition were not disclosed.
The site hosts a 127,000-square-foot, Tier III data center located just outside of Toronto and near what the buyers assert is the country’s largest carrier hotel and interconnection center. The facility offers 10 MVA of utility power, much of it generated through nuclear clean energy. Plans call for that capacity to increase to 27 MVA. Grain says the site also offers “considerable lease up prospects” that should be attractive to hyperscalers and wholesale tenants, including the presence of additional land for building expansion.
"55 Hereford is a unique, next generation property centrally situated within the second-largest financial hub in North America and in Canada's business and financial capital. This, along with its proximity to other U.S. business hubs like Boston and Chicago, was a big draw for Grain, especially given the availability of power both onsite and in the surrounding area,” commented Ted Manvitz, a managing director at Grain. “With StratCap as our partner, we look forward to executing on our value creation strategy, bringing to bear our deep and broad expertise as a long-time investor in digital infrastructure and in the global broadband ecosystem."
"This is a mission-critical facility that plays a vital role in the digital economy,” added Bryan Marsh, head of StratCap's Global Data Center Platform. “We are excited to partner with Grain to acquire such a dynamic asset with in-place rental income, exceptional tenants, and a value-add growth opportunity."
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
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