Stream Data Centers launches new investment vehicle
Stream Data Centers confirms the formation of a new investment vehicle to make wholly-owned investments in data centre opportunities across the US.
“A key differentiator that helped us win, beyond our longstanding track record of successfully investing in and developing data centres, was our people and putting relationships first,” Mike Armstrong, managing director of the Stream investments practice.
Backed by an unnamed public pension plan, this new account supports Stream’s long-term history in data centre investing and maintains its momentum in building solutions to serve its customers, tenants, investors and partners.
“We are very excited to partner with such a well-established and experienced real estate investor that shares our view of the long-term attractiveness of data centres as an institutional asset class,” added Michael Wong, managing director at Stream Data Centers.
The new vehicle will focus on stable and modest value-add opportunities in major US markets where the Stream Data Centers team believes it can add value and manage risk through its data centre operating platform and investment team.
In related news, earlier this month, the company announced the appointment of Stuart Lawrence as its vice president of product engineering.
“I’m very excited to join the Stream team, especially as we continue to rapidly grow and innovate. The strength and experience of Stream’s sales, engineering, construction and operations teams is second to none. To be a part of that was a big draw,” adds Lawrence.
Working alongside Mike Licitra, VP of solutions architecture; Michael Lahoud, COO and partner; and Chris Bair, SVP of sales and leasing, Lawrence will support the sales and service delivery teams by ensuring the Stream's product portfolio meets the current and future technical needs of its clients.
“In an industry where problem-solving can really benefit from a level of creativity that is combined with deep technical knowledge, Stuart is a real asset to Stream. We’re proud to welcome Stuart to our team, and we know he will fit right in with our philosophy of collaboration — both internally and with our customers — to great effect,” said Lahoud.