Blackstone Boosts Aligned Data Centers with $600M for Salt Lake City Expansion

Blackstone Credit & Insurance, a division of private equity firm Blackstone, has extended a $600 million senior secured credit facility to Aligned Data Centers. This financial support is aimed at the development of SLC-03, Aligned's latest and largest data center project situated near Salt Lake City.

Strategic Partnership and Financing

This credit facility marks the initiation of a strategic partnership between Blackstone Credit & Insurance (BXCI) and Aligned. It is backed by insurance accounts managed by BXCI's Infrastructure & Asset Based Credit Group.

SLC-03: The Newest Data Center

SLC-03, located at 3333 W 9000 S in West Jordan, Utah, is a significant addition to Aligned's portfolio. This two-story data center boasts an 80 MW capacity and is being constructed as a build-to-suit facility. It features Aligned's patented Delta Cube cooling technology, which incorporates a waterless heat rejection system.

Company Expansion and Development

Aligned had announced its plans for SLC-03 in June 2022, aimed at catering to an undisclosed client. This initiative follows the acquisition of the site nearly a year prior, along with the commencement of work on SLC-04, another large-scale facility at the West Jordan campus. Aligned already operates two other facilities on-site: SLC-01, spanning 300,000 square feet, and SLC-02, which was completed in March 2021 and covers 240,000 square feet.

Expanding Operations Beyond Utah

Apart from its Utah endeavors, Aligned has recently expanded its operations to Ohio. In September 2023, the company acquired a 129-acre parcel in Sandusky, formerly owned by General Motors, with plans for a new data center campus.

Nationwide and International Presence

Aligned's footprint extends beyond Ohio and Utah, with operations or development projects in eight U.S. states, including Texas, Illinois, Oregon, Arizona, Maryland, and Virginia. Additionally, the company has a presence in Canada and Latin America.

Blackstone's Data Center Investments

Blackstone has been increasingly active in the data center investment space. Notably, it formed a joint venture with Digital Realty late last year for the development of four new data centers in various locations. Additionally, Blackstone's acquisition of QTS Realty Trust for $10 billion in June 2021 demonstrates its commitment to this sector, further underscored by its $8 billion pledge for new data center development through QTS.