CHICAGO and DENVER, Aug. 13,
2024 /PRNewswire/ -- RadiusDC, a national owner and
operator of highly connected, urban-located data centers, today
announced its acquisition of Miami I, one of the most highly
interconnected data centers in the South
Florida market, located in Sweetwater, Florida. RadiusDC acquired Miami I
from NextStream, a data center operator in Latin America owned by Actis.
RadiusDC is backed by IPI Partners, LLC ("IPI"), the largest
privately held global investment platform exclusively focused on
data centers.
Miami I is a two-story building with approximately 170,000
square feet of data center space constructed to withstand Category
5 hurricane winds. RadiusDC anticipates Miami I has the potential
to support more than 15 total megawatts (MW) of critical IT power
capacity. The facility is a carrier-neutral,
telecommunications-focused data center serving latency-sensitive
workloads in South Florida,
offering connectivity to European and South American markets. The
building's significant "meet-me-room" provides robust and scalable
connectivity to 11 fiber optic and network service providers.
RadiusDC, through its support from IPI, plans to immediately
further invest in Miami I to expand the site's capacity from 3.2 MW
to 9.2 MW of critical IT power capacity and continue to bolster the
existing connectivity ecosystem. The initial phase of construction
is expected to be completed during the first half of 2026.
"We believe Miami I is an ideal asset to expand the geographic
reach of our connectivity-focused platform given the strength of
its existing network and immediately available growth potential,"
stated Mike Krza, Chief Executive
Officer of RadiusDC. "We are excited to deliver new strategic data
center capacity in the South
Florida market over the coming year."
"The Miami I acquisition represents an important milestone in
our plan to expand the RadiusDC platform. These assets allow us to
address another important edge market with significant expansion
capacity for our core hyperscale customer base in a highly
connected environment," added Christopher
Jensen, Managing Director of IPI.
"Data centers are crucial in connecting communities, enabling
economic growth, and in providing access to information and
education," commented Mauricio
Giusti, Partner at Actis. "With this sale, we have found a
strong buyer in RadiusDC, and we look forward to seeing Miami I
grow under its new ownership, as NextStream continues to focus on
the rapidly expanding Latin American market."
Greenhill, a Mizuho affiliate, and Akin Gump Strauss Hauer &
Feld LLP served as financial advisor and legal advisor,
respectively, to RadiusDC. BBVA served as financial advisor
and Pinheiro Neto Advogados and Holland & Knight served as legal advisors
to Actis and NextStream.
Financial terms of the transaction were not disclosed.
About RadiusDC
Meeting the colocation demands of tomorrow, RadiusDC owns and
operates facilities in strategically located population centers
throughout North America. Serving a wide variety of network
operators, carriers, MSOs, and content providers, RadiusDC supports
the increasingly urgent requirement to expand IT infrastructure to
the network edge. For more information, please visit
radius-dc.com.
About IPI Partners
IPI Partners, LLC ("IPI" or the "Firm") is a leading global
hyperscale data center platform, solving the most complex digital
capacity challenges for the largest technology companies in the
world. Since its formation, IPI has partnered with hyperscalers to
ensure they have the mission critical infrastructure to move their
businesses – and the world – forward. As of June 30, 2024, IPI was the largest global
investment platform exclusively focused on data centers, with more
than $20 billion in total equity and
debt commitments and a portfolio encompassing 80 operational and
under-construction facilities across 29 markets in North America, Europe, and APAC. The firm is
headquartered in Chicago, with
over 70 investment professionals located in Amsterdam, Dallas, New
York, San Francisco, and
Washington, DC. For more
information, please visit ipipartners.com.
Media Contact
Jaymie
Scotto & Associates (JSA)
+1 866.695.3629 ext. 4
jsa_radiusdc@jsa.net
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SOURCE RadiusDC