EdgeCore Wins $235 Million To Finance High-Density Data Center Development

EdgeCore’s asset-backed security offering was “significantly over subscribed” and won an S&P rating of A- and BBB- for both tranches of notes, the company said.

3D illustration of server room in data center full of telecommunication equipment,concept of big data storage and cloud

Data center heavyweight EdgeCore announced today that it has won $235 million in asset-backed financing as the company looks to expand its facilities footprint.

A company spokesperson told CRN via email that the issuance is backed by the company’s Phoenix data center PH01, which has 26 megawatts of capacity. That building – part of EdgeCore’s flagship data center campus – is fully leased to a hyperscale customer that is based in the data center’s greater metropolitan region.

“EdgeCore’s rapid, exponential growth continues to be supported by the strong financial backing of our owner, Partners Group, and our ability to raise funds through various financing strategies,” said Lee Kestler, CEO of EdgeCore Digital Infrastructure, according to a statement announcing the financing.

[Related: EdgeCore Digital Infrastructure Built For ‘Exponential’ Growth, New President Tells CRN]

EdgeCore’s asset-backed security offering was “significantly over subscribed” and won an S&P rating of A- and BBB- for both tranches of notes, the company said.

“Today’s announcement of a significantly oversubscribed, $235 million asset-backed securitization and establishment of a corresponding master trust is a strong first step in a series of ABS issuances, which will fund the development of high-density data center campuses across our portfolio,” Kestler said in the statement.

This particular asset-backed security is made up of “green bonds,” EdgeCore’s executive vice president of finance Julie Brewer said in a statement. Those bonds are issued in accordance with Green Financing Framework.

“The strength of the S&P ratings associated with this securitization [is] proof that the financial market continues to see value and stability in EdgeCore and the data center industry as a whole,” Brewer said, according to the statement.

In June, EdgeCore announced the acquisition of 697 acres of land in Louisa County, Va., on which the company intends to develop a data center campus capable of supporting over 1.1gigawatts of power. In May 2025, EdgeCore announced that it had acquired another 44 acres of land in Greater Phoenix, which will be used to expand its total data center capacity in Mesa, Ariz., to over 450 megawatts of capacity.

Last month, EdgeCore president Steve Conner spoke with CRN and discussed his vision and strategy for the company as it starts ambitious hiring plans to meet the growth that is coming into the market.

“We’re going to continue to focus on traditional hyperscalers and also spend a decent amount of energy on those ones that are providing an ecosystem service that is complementary,” he told CRN. “When we look at the chip manufacturers, they are starting to buy capacity at pretty substantial clips. When you start looking at people that have bought those chips, specifically GPUs, they’re starting to look at data center capacity at a pretty substantial clip.”

EdgeCore was acquired by private equity firm Partners Group in 2022 for $1.2 billion. The private equity firm invested an additional $1.9 billion into the company last year to fund expansions across its existing locations.