A real estate brokerage firm has secured more than $1 billion in funding to fuel a move into the data center space.

La Rosa Holdings Corp. this week announced it has secured $1.25 billion in financing facilities from institutional investors.

The financing includes $1 billion equity purchase facility and a $250 million private placement convertible note facility. The company said it aims to use the proceeds in part to fund its “strategic repositioning toward developing next-generation data center infrastructure for AI computing, among other uses.”

The company said the funds will allow it to pursue acquisitions and joint ventures with established technology and infrastructure partners within the technology and infrastructure space.

La Rosa said it aims to repurpose and develop high-value properties into advanced data center facilities optimized for artificial intelligence workloads.

Details of any planned data center developments weren’t shared.

Joe La Rosa, CEO of La Rosa, called the move a “defining moment for our company.”

“Our strategic pivot builds on our strong PropTech foundation, which has fueled innovation in real estate through AI-driven tools and blockchain-enabled platforms,” he said. “We believe that our deep experience in property markets gives us a unique advantage in delivering scalable, energy-efficient data center solutions. This capital will provide us with the flexibility and resources to accelerate execution, expand strategically, and deliver sustainable long-term value for our stockholders.”

Founded in 2004, La Rosa Holdings Corp. offers residential and commercial real estate brokerage services. It operates brokerage offices across the US and is moving to Europe. The Nasdaq-listed firm went public in 2023.

Curvature Securities LLC acted as the sole placement agent, and A.G.P./Alliance Global Partners acted as the financial advisor to the company with respect to the equity purchase facility. A.G.P./Alliance Global Partners acted as the sole placement agent to the company with respect to the note facility.