CapitalSource, a division of Pacific Western Bank, and a national middle market lender, announced its role as the sole lender in a recently closed deal with sponsor Stream Data Centers. CapitalSource provided a $44 million construction loan to Stream Data Centers to build a Tier III data center in Minnesota that is 100% pre-leased to a Fortune 500 financial services company. When complete, the facility will contain state-of-the-art infrastructure that will be custom tailored to the client’s specific needs.
Stream Data Centers, a division of Stream Realty Partners, specializes in developing best-in-class, secure, highly efficient data centers for corporate users. Stream Data Centers was founded in 1999 and is led by managing partners Rob Kennedy and Paul Moser. Since 1999, Stream has acquired or developed 20 data centers with over 200 megawatts of critical power capacity.
With a national, specialty Data Center Real Estate practice, CapitalSource has developed a unique product offering and capability that allows them to bridge commercial real estate and specialty technology to provide a hybrid solution to the market. The group’s Directors, Rashad Kawmy and Sonia Khanna understand the space well, and apply their expertise and creative aptitude on behalf of the clients they serve. CapitalSource has previously financed two data centers for Stream Data Centers.