Investment firms Silverpeak, Legacy and Oaktree have acquired data centers in Cleveland and Cincinnati.

The trio of investors purchased the leases to the two facilities from PNC Bank, along with a portfolio of office and industrial space.

Cincinnati skyline
The Cincinnati skyline – Rick Dikeman/Wikimedia Commons

Triple threat

Totaling 70,000 square feet of leasable floor space and 6.7MW of immediately available N+1 power capacity, both Tier III data centers are designed to handle high performance computing workloads and feature liquid-cooled cabinets.

In the last twelve months, Silverpeak and Legacy have invested in more than 540,000 square feet of white space and 24MW of power capacity across five facilities, all of which have anchor tenants.

“We are pleased to invest alongside Legacy and Oaktree in a sector where there is growing demand for high quality space,” Brad Lebovitz, managing director of Silverpeak, said.

“The addition of these assets not only expands our sector presence, but also introduces us to edge markets where we see limited supply.”

Silverpeak is an investment firm focused on real estate, energy and credit, having invested more than $17 billion since its founding in 2010.

Jay Rappaport, CEO of Legacy, added: “With this closing, we now have over 32MW under ownership, with current inventory in multiple markets, including Cincinnati, Cleveland and Northern Virginia... [the new data centers] were purpose-built by a large financial institution as their primary data centers with over $60 million invested in each facility."

Legacy owns and manages a portfolio of US real estate assets totaling over four million square feet, with total asset acquisitions worth more than $1bn.

Previously known as Orion Reo, Oaktree Capital has more than 950 employees in 18 cities worldwide and $120 billion in assets, including an investment in three gas-powered data centers in Dublin.