Flexential completes its second sale-leaseback deal this year

Flexential completes its second sale-leaseback deal this year

Flexential  - portland-hillsboro-3.png

US data centre services firm Flexential has entered into a second facility sale-leaseback agreement with Legacy Investing and Invesco Real Estate.

This time a deal will enable a 130,000 sq ft expansion of Flexential's Plano, Texas data centre, more than doubling capacity at that facility to over 260,000 sq ft. It will bring Flexential's Dallas market capacity to over 432,000 sq ft in total.

This agreement follows a sale-leaseback partnership with Legacy Investing and Invesco Real Estate for Flexential's Hillsboro 3 data centre in Portland (pictured) in April this year.

With rapidly growing demand for data centre services in Plano and the broader Dallas market, the partnership will enable Flexential to “quickly and efficiently bring this project to market” while giving Legacy and Invesco Real Estate an “excellent investment opportunity”, said the partners.

Chris Downie, CEO of Flexential, said: “We are committed to continued investment in the 38 highly connected data centres in our platform of hybrid IT infrastructure solutions and are pleased this partnership is enabling us to realise quick and efficient growth.”

Jay Rappaport, Legacy Investing CEO and co-founder, added: “This mutually beneficial partnership is part of our broader focus on data centre real estate and will allow Flexential to concentrate its capital on operations to maximise its returns.”

Flexential says it has a total 3 million square feet of data centre space under its management across 19 markets.

Gift this article