DataBank Secures $2 Billion Construction Loan From MUFG Bank For Red Oak Development Site
$2,000,000,000
$3,333/SF
Building Size
600,000 SF
Asset Type
Development Site
Closing
Apr 22, 2026
AI
The transaction involves a development site located on Stainback Road in Red Oak, Texas. The asset is set to be developed into an eight-building data center campus, with initial funding securing three fully preleased facilities that will encompass a total of 600,000 square feet and have a capacity of 180 megawatts.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,000,000,000
- Lender: MUFG Bank
- Landlord: Raul Martynek & Kevin Ooley - DataBank
- Loan Type: Construction
Key individuals involved in the transaction include Raul Martynek and Kevin Ooley, who represent DataBank as the landlords. The construction loan, led by MUFG Bank, is aimed at fast-tracking the development to meet the rising demand in the Dallas-Fort Worth data center market, with an anticipated acceleration of delivery by 18 months.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93