Ascent Corporation has announced it has closed on $107 million in debt financing from a lending group headed by Bank of America Merrill Lynch with participant banks Royal Bank of Scotland and Cole Taylor Bank, to fund the expansion of their multi-tenant development model Dynamic Data Center Suites in Chicago as well as new markets. 

“We are excited to have secured this debt financing for the funding of our Ascent CH2 Data Center development in suburban Chicago, as well as new markets,” said Phil Horstmann, CEO of Ascent Corporation. “Our approach to purpose-built, multi-tenant data center developments and our data center operational experience attracted the lending community to us. The success of our business model will allow us to attract future debt and equity capital to help fund the accelerated growth of our business into new markets.”