Tuesday, May 14, 2013

T5 Announces $113 Million for Data Center in Plano

T5 Data Centers has secured a $113 million loan to expand its T5@Dallas Data Center in Plano, Texas. The project ultimately will deliver 22.5 megawatts of IT load power and house 247,000 square feet under one roof.

The new funding round is being led by JP Morgan Chase Bank, NA, and includes investments from Wells Fargo Bank, RBS Citizens Financial Group, and Raymond James.  With this additional loan, T5 Data Centers has raised a combined $500 million over the past three years.

"There is unprecedented demand for new data center capacity as more companies invest in private cloud and expanded enterprise infrastructures," said Peter S. Marin, President and CEO of T5 Data Centers. "According to Cisco's Visual Networking Index, a zettabyte of data will cross the Internet in 2016 -- that's 1,024 exabytes or 1.1 trillion gigabytes of data. Companies are looking to capitalize on cloud computing resources to house their data, which is driving demand for high-capacity, custom-built data centers like T5@Dallas. This is the perfect time to invest in data center expansion."