New Continuum Data Centers Announces The Acquisition Of Flagship West Chicago Data Center
Acquisition completes early investment cycle in the redevelopment of the western suburban Chicago facility as a multi-tenant colocation and interconnection data center.
IT infrastructure service provider, New Continuum Holdings Corporation, which operates New Continuum Data Centers (New Continuum), has announced the acquisition of the company’s flagship mission critical data center located at 603 Discovery Drive in West Chicago, Illinois. The facility, which was officially acquired in late December, was originally purpose-built as a data center by the previous owner. Post Road Group, a leading real estate bridge lender and investor in U.S. middle-market telecommunications infrastructure, provided the senior debt financing for this transaction.
“We are excited about providing New Continuum capital to finance the acquisition of this data center. We look forward to working with the New Continuum team as they continue to execute their business plan,” said Jason Carney, managing director, Post Road Group.
New Continuum began leasing the property in the fall of 2013 when it commenced construction on a redevelopment project for the building. The Company began operating a multi-tenant data center on the premises in 2015 when the initial construction was completed, and then added incremental cooling capacity in the summer of 2018. Leveraging the rich infrastructure of the existing facility, New Continuum has established itself as a leader in innovating and adopting new technologies in multi-tenant data center services.
“This is a major milestone for New Continuum,” adds Eli D. Scher, founder, chairman and CEO of New Continuum, “When we began this re-development project, it was always our objective to eventually own the underlying real estate asset as well. With this transaction completed, we can now begin the next chapter in New Continuum’s evolution as an owner and operator of this critical data center.”