BGO Secures $260m for US Data Center Development

Real estate investment firm BentallGreenOak (BGO) this week announced the successful close of its data center co-investment fundraise, totaling approximately $260m, which was established in connection with its US Industrial Strategies I fund.

BGO said it is now in the advanced stages of securing up to 800MW of power capacity in aggregate to enable the construction of up to 3.2 million sq ft (297,289 sqm) of data center space. The portfolio now spans more than 1,500 acres across the US, with 17.1 million sq ft (1.58 million sqm) of buildable area, including capacity for data centers. BGO said that of this, 6.4 million sq ft (594,579 sqm) has already been built, with 5 million sq ft (464,515 sqm) leased to a diverse mix of institutional-grade tenants.

“What we’ve been able to achieve to date through Industrial Strategies I reflects growing investor conviction in BGO’s ability to deliver the next generation of state-of-the-art digital infrastructure, and state-of-the-art, power-hungry logistics facilities,” said John Carrafiell, co-CEO of BGO. “By combining institutional real estate expertise with deep utility-grade energy insight, we’re creating three shovel-ready powered sites with access to critical infrastructure—substations, transmission lines, and fiber networks. In today’s power-constrained environment, our data science-driven approach enables us to identify and deliver precisely what hyperscale users need—at scale, speed, and certainty.”