Data Center Financing.
Colocation, Hyperscale, and Enterprise.
Colocation facilities, hyperscale powered shells, and enterprise single-tenant data centers. 30 markets covered. Life company, CMBS, specialty debt fund, and construction execution. Power capacity, lease structure, and tenant credit drive the lender fit. We match each facility to the right capital source.
Three Data Center Programs. One Broker.
Data center underwriting is driven by power capacity, cooling infrastructure, tenant credit quality, lease structure, and the specific facility type. Colocation assets with diversified enterprise tenants draw broad lender interest. Hyperscale powered shells depend entirely on the hyperscaler lease. Enterprise single-tenant facilities are valued on the strength of the occupant credit. We place each type with the lenders who actually understand the asset.
Colocation Data Center Financing
Multi-tenant colocation facilities leasing cabinet, cage, and suite space to enterprise and cloud tenants. Diversified tenant base reduces single-occupant risk. Stabilized colo assets with 85 percent or better occupancy draw life company and CMBS interest. Construction and lease-up phases served by specialty debt funds.
Hyperscale Powered Shell Financing
Large-scale shell facilities pre-positioned for hyperscale cloud leases from AWS, Microsoft Azure, Google Cloud, and Meta. Financing is almost entirely dependent on the hyperscaler lease credit and term. Pre-lease or single-tenant structures require specialized lenders comfortable with concentration risk.
Enterprise Single-Tenant Financing
Purpose-built or owner-occupied data centers for single enterprise or corporate tenants. Lender underwriting centers on occupant credit quality, lease term, and mission-criticality of the facility to the tenant's operations. Investment-grade occupants unlock life company and CMBS execution at tighter spreads.
Coverage Across 30 US Markets
City-specific market intelligence, active lender commentary, and program-level financing guides for every major US metropolitan market. Select a city to see lender appetite, underwriting notes, and deal structure for your specific program type.
Deep Dives by Program Type
Long-form financing guides for each program type, written by a commercial mortgage broker who closes these deals, not a content team learning the asset class.
Colocation Data Center Financing Guide
Rates, lender types, underwriting criteria, and deal structure for colocation data center financing financing. Written by a commercial mortgage broker who closes these deals.
Read guide →Hyperscale Data Center Financing Guide
Rates, lender types, underwriting criteria, and deal structure for hyperscale powered shell financing financing. Written by a commercial mortgage broker who closes these deals.
Read guide →Enterprise Data Center Financing Guide
Rates, lender types, underwriting criteria, and deal structure for enterprise single-tenant financing financing. Written by a commercial mortgage broker who closes these deals.
Read guide →Frequently Asked Questions
Answers from a broker who closes data centers deals, not a chatbot or a FAQ template.
What makes data center financing different from standard commercial real estate?
Data centers are underwritten on power capacity and reliability as much as location and square footage. Lenders evaluate primary and backup power systems, cooling redundancy (typically N+1 or 2N), fiber connectivity, and physical security. A data center lender needs to understand that the asset value is tied to the infrastructure and the lease structure, not just the building shell. Generic commercial real estate lenders often decline data centers or misprice them because they lack the technical underwriting expertise.
Which lenders are most active for data center financing?
Life insurance companies with specialty technology real estate desks are among the most competitive for stabilized colocation and enterprise single-tenant assets. CMBS conduits have become active for larger stabilized facilities with creditworthy tenant concentrations. Specialty debt funds and infrastructure-focused lenders dominate the construction, pre-lease, and hyperscale powered shell segments where credit underwriting requires deeper technical due diligence. Regional banks are active for smaller owner-user and single-tenant facilities.
How does the hyperscale powered shell lease affect financing?
A hyperscale powered shell lease from AWS, Google, Microsoft, or Meta is essentially the entire credit story for the lender. The key underwriting variables are the hyperscaler's corporate credit rating, lease term remaining, renewal options, and any early termination provisions. Most lenders will not finance a pre-lease hyperscale shell without a signed lease in place from an investment-grade hyperscaler. Once the lease is signed, the credit quality of the borrowing entity matters far less than the strength of the tenant commitment.
What power and infrastructure thresholds do lenders require?
Lenders with data center underwriting expertise evaluate total critical load capacity in megawatts, power use effectiveness (PUE), redundancy tier (typically Tier III or Tier IV for institutional lending), cooling system type, and the availability of utility substations with adequate transmission capacity. Markets with constrained power grids such as Northern Virginia, Phoenix, and Dallas draw scrutiny around utility interconnection timelines and grid reliability. A broker with data center expertise can identify which lenders are comfortable with each power infrastructure profile.
Which markets have the strongest data center lender appetite?
Data center lender appetite is strongest in established primary markets with reliable power infrastructure, fiber density, and existing hyperscaler presence. Northern Virginia (represented by Washington DC market), Dallas, Phoenix, Atlanta, Chicago, and Silicon Valley (San Jose) are the most active data center lending markets. Secondary markets including Columbus, Indianapolis, and Raleigh are growing rapidly due to lower power costs, available land, and favorable incentive structures.
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