Colovore Secures $925M Loan From Blackstone For Development Sites In Reno Chicago Austin

The asset involved in this transaction is a Development Site Portfolio, which includes plans for ultra-dense, liquid-cooled data centers. This development spans three markets: Reno, NV; Chicago, IL; and Austin, TX. The overall project focuses on advanced AI infrastructure, specifically designed for high-performance computing environments.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $925,000,000
• Lender: Stephen A. Schwarzman - Blackstone
• Landlord: Brian Higgins - King Street Capital Management
• Launch Years: 2026–2027
• Facilities: 20 MW built for high-performance computing and NVIDIA DGX certification

This transaction sees Colovore, backed by King Street, securing significant debt financing to support its expansion efforts. The deal highlights the involvement of Stephen A. Schwarzman and Brian Higgins, key figures from Blackstone and King Street Capital Management, respectively, marking a notable collaboration in the development of cutting-edge infrastructure.