CO-EDGECORE-INTERNET
14.2.2018 09:02:10 CET | Business Wire | Press release
Mount Elbert Capital Partners (“Mount Elbert”), GIC and OPTrust today announced the formation of EdgeCore Internet Real Estate, LLC (the “Company”), an investment vehicle with fully integrated operational capabilities formed to develop, acquire, and operate data centers across North America. The Company will initially be capitalized with over US$800 million of equity targeted to support approximately US$2.0 billion in data center development and investment.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180214005255/en/
EdgeCore Internet Real Estate’s initial roll out of its North American data center platform will include campus developments across six markets. The Company has acquired land in Mesa, Arizona, and prior to the end of this quarter the company plans to close upon existing agreements to acquire land in Dallas and Reno. The Company plans to commence construction on each campus immediately upon acquisition. With each campus designed to deliver between 100 MW and 200 MW of critical power to customers, the Company plans to complete the first building in these markets in late 2018. Additionally, in the second quarter of this year the Company intends to pursue acquiring land in three complementary Tier I markets, with a view toward commencing construction on each campus within the year.
“We are pleased and honored to join forces with GIC and OPTrust, which we view as two of the world’s most capable and sophisticated investors. We are excited to execute upon our shared vision of creating a scalable North American data center platform and we look forward to expanding with GIC and OPTrust as we work to grow EdgeCore Internet Real Estate beyond our initial roll out,” says Tom Ray, Chairman and CEO of EdgeCore Internet Real Estate and Mount Elbert.
GIC will be the lead anchor investor in EdgeCore Internet Real Estate. Lee Kok Sun, Chief Investment Officer, GIC Real Estate, said, “GIC is pleased to partner with Mount Elbert and OPTrust in this venture. As a long-term value investor, we believe the secular growth in data consumption and public cloud usage will generate attractive returns in the data center sector.”
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities.
Additional information on the Company can be found at www.edgecore.com .
About Mount Elbert
Mount Elbert Capital Partners is a private investment company and SEC-registered Investment Advisor headquartered in Denver, Colorado, with specialized capabilities in real assets, including data centers and related infrastructure. Founders of Mount Elbert have experience evaluating, making and managing investments in real assets with an aggregate value exceeding $10 billion across the US, Europe, and Asia, with more than $5.0 billion in data center real estate and related infrastructure.
About GIC
GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including real estate, private equity, equities and fixed income. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,400 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg .
About OPTrust
A fully funded plan with net assets of $19 billion as of December 31, 2016, OPTrust invests and manages one of Canada’s largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with almost 90,000 members and retirees.
OPTrust is a global investor in a broad range of asset classes including Canadian and foreign equities, fixed income, real estate, infrastructure and private markets, and has a team of highly experienced investment professionals located in Toronto, London and Sydney. As a pension management organization, OPTrust’s mission is to pay pensions today, preserve pensions for tomorrow.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180214005255/en/
Contact:
EdgeCore Internet Real Estate
Claire Rowberry, +1
617-785-5571
Communications
claire@clearcommsc.com
or
OPTrust
Claire
Prashaw, +1 416-681-3617
Manager, Public Affairs
cprashaw@optrust.com
or
GIC
Tess
Chia, T: +65 6889 8653
Vice President, Communications
tesschia@gic.com.sg
or
Mah
Lay Choon, +65 6889 6841
Senior Vice President, Communications
mahlaychoon@gic.com.sg
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