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The following content is from an older version of this website, and may not display correctly.Firms struggling to find access to capital for data center construction projects received a boost with the announcement of $1 billion in available funding being managed by Stonemont Financial Group to be built by construction giant Skanska.
Under a finance package developed with Stonemont Financial Group credit worthy firms who wish to construct a data center can access the funds to build energy efficient facilities and repay the capital at a fixed rate over lifetime of the facility under an operating lease structure.
Skanska says the combination of energy efficient design and operation and cheap capital means that clients can typically cut their running costs by 50%. The construction firm partnered with Stonemont Financial Group because "of its access to stable sources of capital, such as pension funds and insurance companies who need to diversity into real estate and deliver in volatile markets."
The funding partnership was announced at Datacenter Dynamics San Francisco conference today.
"Skanska's core focus is overall sustainability," said Jakob Carnemark, Senior Vice President leader of the firm's Mission Critical Center of Excellence. "Stonemont gives our clients access to 100% financing for developing an operating lease structure that is affordable and sustainable. This is an ideal type of partnership."
Companies are choosing between having these costly assets on their balance sheet or outsourcing their core business and starting down a road where their costs will ultimately spiral out of control.
Bob McMahon, Principal of Stonemont Financial, said: "Skanska's ability to achieve lowest possible energy use in data centers they build combined with our ability to invest efficient capital means companies can renovate and/or expand their data centers at the lowest possible cost and have complete certainty of execution."
"We partnered with the Stonemont team because of its long history of funding single-tenant lease transactions and their ability to deliver capital," said Chris Strom, director of project development for Skanska.
"This program plays an important role in reaching our goal of delivering network infrastructure to our clients that enables the most efficient utilization of capital and energy."
Leveraging their investment directly with stable investors in the capital markets and without the high-return requirements of opportunity funds and development capital, the Skanska Stonemont partnership can fund projects that cost $20 million or more at an extremely cost-effective rate the company said.
Under a finance package developed with Stonemont Financial Group credit worthy firms who wish to construct a data center can access the funds to build energy efficient facilities and repay the capital at a fixed rate over lifetime of the facility under an operating lease structure.
Skanska says the combination of energy efficient design and operation and cheap capital means that clients can typically cut their running costs by 50%. The construction firm partnered with Stonemont Financial Group because "of its access to stable sources of capital, such as pension funds and insurance companies who need to diversity into real estate and deliver in volatile markets."
The funding partnership was announced at Datacenter Dynamics San Francisco conference today.
"Skanska's core focus is overall sustainability," said Jakob Carnemark, Senior Vice President leader of the firm's Mission Critical Center of Excellence. "Stonemont gives our clients access to 100% financing for developing an operating lease structure that is affordable and sustainable. This is an ideal type of partnership."
Companies are choosing between having these costly assets on their balance sheet or outsourcing their core business and starting down a road where their costs will ultimately spiral out of control.
Bob McMahon, Principal of Stonemont Financial, said: "Skanska's ability to achieve lowest possible energy use in data centers they build combined with our ability to invest efficient capital means companies can renovate and/or expand their data centers at the lowest possible cost and have complete certainty of execution."
"We partnered with the Stonemont team because of its long history of funding single-tenant lease transactions and their ability to deliver capital," said Chris Strom, director of project development for Skanska.
"This program plays an important role in reaching our goal of delivering network infrastructure to our clients that enables the most efficient utilization of capital and energy."
Leveraging their investment directly with stable investors in the capital markets and without the high-return requirements of opportunity funds and development capital, the Skanska Stonemont partnership can fund projects that cost $20 million or more at an extremely cost-effective rate the company said.