Property investor CIM Group has put $355 million into Novva Data Centers, which plans to offer 1,000MW of designed data center capacity across the US by 2027.
Novva was launched in 2020 with $95m from CIM, initially with plans to develop a $1bn hyperscale campus in West Jordan, Utah.
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The company opened the 300,000 square foot (28,000 sq m) first phase of that campus late last year, and targets growing the facility to 1.5 million sq ft (140,000 sq m) over four phases.
In 2021, the company also acquired a 6MW facility in Colorado Springs and announced plans to expand it to 30MW for $200m.
In addition to its own wholesale and colocation facilities, Novva's campuses offer build-to-suit options.
"This equity investment from CIM Group will allow Novva to continue delivering on our company vision of providing the best wholesale and multi-tenant colocation infrastructure services to clients at the lowest possible cost," said Novva CEO Wes Swenson.
"We're thrilled to have a partner like CIM Group that shares the same vision of delivering a bespoke, premium data center experience to each and every client."
Avi Shemesh, CIM Group co-founder, added: "CIM Group is excited to continue to invest in Novva Data Centers' growth strategy as Novva demonstrates it is among one of the most innovative data center developers and operators in the industry."
