Flexential closed an oversubscribed $800 million credit facility, expanded 60% from its $500 million target, to finance over 130 MW of new data center capacity in Atlanta, Portland, and Denver with backing from an 11-bank syndicate and equity sponsors GI Partners and MSIP.
Flexential’s $800 million credit facility is a dedicated financing platform designed to accelerate data center capacity expansion in high demand U.S. markets amid rising enterprise and AI driven infrastructure needs.
The facility totals $800 million and was significantly oversubscribed, leading to a 60% upsizing from the initial $500 million target due to strong lender demand. It functions as a dedicated financing vehicle for Flexential’s development portfolio, supplying committed capital to advance projects from planning through construction and delivery. This structure enhances flexibility in timing developments and responding to evolving customer requirements while supporting the company’s broader national capacity expansion strategy.
It is backed by a syndicate of 11 leading digital infrastructure banks and complements ongoing equity support from sponsors GI Partners and Morgan Stanley Infrastructure Partners (MSIP). TD Securities acted as administrative agent, joint coordinating lead arranger, and joint bookrunner. RBC Capital Markets and J.P. Morgan served as joint coordinating lead arrangers and joint bookrunners. Goldman Sachs, ING, SMBC, Bank of America, and KeyBanc were joint lead arrangers. Flagstar, Citibank, and Investec served as co-documentation agents. Simpson Thacher advised Flexential.
How will Flexential use the funds?
Proceeds will fund more than 130 MW of new capacity across four key markets within Flexential’s national platform. This supports both under construction and planned projects:
- Under construction: 36 MW facility in Atlanta-Douglasville, Georgia; 36 MW facility in Portland-Hillsboro, Oregon; 22.5 MW facility in Denver-Parker, Colorado.
- Planned: Additional 36 MW facility in Portland-Hillsboro, Oregon; 4.5 MW expansion adjacent to existing operations in Atlanta-Norcross, Georgia.
These additions target markets with strong customer growth and rising demand, enabling Flexential to invest ahead of need so customers can secure required capacity, density, and connectivity. CEO Ryan Mallory emphasized close collaboration with customers planning years in advance and the need for confidence in available infrastructure.
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Flexential operates more than 40 data centers across 18 highly connected U.S. markets, with a footprint exceeding 3 million square feet and a private network backbone of 100+ Gbps. The company provides colocation, cloud, interconnection, data protection, and professional services via its FlexAnywhere platform, focused on high density computing, security, compliance, and resiliency for enterprise, AI, and hybrid IT workloads.
The facility builds on prior capital raises, including equity investments from GI Partners (which formed Flexential in 2017 via the Peak 10/ViaWest merger) and MSIP, as well as earlier ABS offerings (notably an $800 million green ABS issuance in November 2025 under its master trust and Green Finance Framework). It positions Flexential to scale capacity in power and connectivity constrained high growth markets while maintaining operational flexibility.
The oversubscription and participation of major digital infrastructure lenders signal strong market confidence in Flexential’s portfolio, development pipeline, and ability to execute in the AI/enterprise demand cycle. By creating a committed development financing platform separate from broader corporate or ABS structures, the company gains scalable, project focused capital that reduces reliance on sequential equity or one-off raises. This supports proactive buildouts in Atlanta, Portland, and Denver markets, aligning with industry trends of near zero vacancy and multi year capacity commitments. Overall, the facility strengthens Flexential’s competitive positioning for high density, customer driven expansion.
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