Data center infrastructure developer Serverfarm has secured a $3 billion credit facility to fund the development and construction of hyperscale campuses in North America.

The credit facility will be used for the development and construction of three Serverfarm campuses: a potential 500MW, 250-acre hyperscale campus in Houston, Texas; expansion of a 498,960 sq ft (46,354 sqm), 60MW facility in Covington, Georgia; and the 4MW expansion of an existing facility in Toronto, Canada.

Serverfarm’s credit facility is supported by a syndicate of 23 institutional lenders.

"This $3 billion facility provides the capital foundation to accelerate our hyperscale campus development pipeline at a time when speed to market is a competitive differentiator," said Avner Papouchado, CEO of Serverfarm.

"Our proven basis-of-design enables accelerated delivery timelines, allowing cloud providers and AI innovators to deploy GPU-intensive workloads when timing matters most. This credit facility ensures we can meet unprecedented demand for high-density, AI-ready infrastructure across our strategic North American portfolio."

Recep Kendircioglu, global head of infrastructure at Serverfarm owner Manulife Investment Management, added: "We appreciate the strong support from the lender community, including strategic partners of both Serverfarm and Manulife Investment Management. We see attractive opportunities to deploy capital to develop data center infrastructure globally and are excited to continue to support the Serverfarm platform in executing its growth plans.”

Serverfarm was founded in 2009 by real estate development firm Red Sea Group. It was acquired by Manulife in 2023.

The company currently operates 10 data centers, seven of which are based in the US. The remaining three sites are spread across Amsterdam, London, and Israel.