Plano data center firm secures $600 million in backing from Blackstone unit

Aligned Data Centers has received a sizable financing infusion from a New York heavyweight.

The Plano-based technology infrastructure company this week announced an initial $600 million credit facility with Blackstone Credit & Insurance.

The money will go toward development of Aligned’s newest and largest data center, a two-story, 80-megawatt hyperscale campus in West Jordan, Utah. The build-to-suit project will house three facilities.

Blackstone Credit & Insurance is the combination of Blackstone’s two fastest-growing segments, which were integrated last year. The commitment to Aligned comes from insurance accounts managed by the unit’s Infrastructure & Asset Based Credit Group.

Aligned, which has operations in the U.S., Canada and Latin America, filed plans earlier this year to add a 450,000-square-foot data center building, in addition to an electrical substation, to its flagship data center campus in Plano.

Data center space has been in short supply across the country with a development boom expected to hit in the years to come, and Dallas-Fort Worth is no different.

More than 800,000 square feet of data center space is currently under construction in the region, with a reported development pipeline of more than 2.6 million square feet.