CapitalSource Closes $44 Million in Data Center Financing with Stream Data Centers
Los Angeles, CA—April 18, 2017
CapitalSource, a division of Pacific Western Bank, and a national middle market lender, announced today its role as the sole lender in a recently closed deal with sponsor Stream Data Centers. CapitalSource provided a $44M construction loan to Stream Data Centers to build a Tier III data center in Minnesota that is 100% pre-leased to a Fortune 500 financial services company. When complete, the facility will contain state-of-the-art infrastructure that will be custom tailored to the client’s specific needs.
Stream Data Centers, a division of Stream Realty Partners, specializes in developing best-in-class, secure, highly efficient data centers for corporate users. Stream Data Centers was founded in 1999 and is led by managing partners Rob Kennedy and Paul Moser. Since 1999, Stream has acquired or developed 20 data centers with over 200 megawatts of critical power capacity.
With a national, specialty Data Center Real Estate practice, CapitalSource has developed a unique product offering and capability that allows them to bridge commercial real estate and specialty technology to provide a hybrid solution to the market. The group’s Directors, Rashad Kawmy and Sonia Khanna understand the space well, and apply their expertise and creative aptitude on behalf of the clients they serve. CapitalSource has previously financed two data centers for Stream Data Centers.
CapitalSource makes commercial loans to small and middle-market businesses nationwide. CapitalSource is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets and 77 full-service branches. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit https://www.capitalsource.com/commercial-lending/lending-products/data-center-finance
About Stream Data Centers
Stream Data Centers develops, owns and operates secure, redundant, purpose built data center facilities for corporate users. Since 1999, Stream Data Centers has been providing space for Fortune 1000 enterprise and cloud data center users. Stream has acquired and developed more than 2.0 million square feet of data center space in Texas, Minneapolis, California and Colorado, representing more than 200 megawatts of power. For more information, visit Stream Data Centers’ website at www.streamdatacenters.com.