GI Partners closes on Cloud Plaza data centre

GI Partners closes on Cloud Plaza data centre

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Private investment firm, GI Partners confirms the acquisition of 22262 Cloud Plaza (Cloud Plaza) in Sterling, Virginia.

“We are excited and proud to own one of the most densely networked data centres in Northern Virginia, the nexus of the world’s internet traffic," said John Sheputis, managing director at GI Partners and head of acquisitions for GI Partners Real Estate.

"We are seeing increased net absorption for data centre capacity broadly, and users placing premium value on locating at network-differentiated assets like Cloud Plaza. We believe that the addition of this fortress-like asset to our data centre portfolio will reduce our overall risk while providing accretive returns over the long-term.”

Cloud Plaza is a highly networked and energy efficient data centre currently leased by a global technology firm and the deal aligns with GI Partners strategy to acquire and manage technology enabled real estate.

GI Partners acquired its stake from Sentinel Data Centres which will retain a minority stake in Cloud Plaza.

“The GI Partners Real Estate team has been great to work with and a real class act. We are thrilled to be investing alongside GI Partners and continuing our involvement with this amazing asset,” said Josh Rabina, Co-CEO of Sentinel Data Centers.

Cloud Plaza is a hyperscale facility located in Virginia, the largest data centre market in the US. Operational since 2019, Cloud Plaza spans 238,000 sqft and offers over 46MW of critical power in an energy efficient design.

In related news, 2021 saw GI Partners acquire ORBCOMM, a global IoT solutions provider, for $1.1 billion. That same year, the firm also closed its dela for LightEdge, a provider of colocation, cloud and managed service solutions, for an undisclosed sum.

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