Cloud Capital Closes $520 Million Data Center ABS Issuance
Cloud Capital closed a $520 million asset backed securities issuance through its new Cloud Capital ABS Master Trust, the company announced in a press release. The firm said the transaction is tied to its Core Joint Venture Strategy, backed by Realty Income and a global institutional investor.
The issuance is secured by an 80 MW stabilized hyperscale data center in Northern Virginia. The facility is leased to an investment grade hyperscale customer under a long term lease.
Cloud Capital said the transaction received AAA ratings from Fitch Ratings, Morningstar DBRS and Kroll Bond Rating Agency. Guggenheim Securities acted as sole structuring adviser and sole active bookrunning manager, while Deutsche Bank Securities and Morgan Stanley acted as passive bookrunners.
The company said net proceeds will support the continued growth of its Core Strategy and provide more flexibility for hyperscale data center investments.
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