Data Center Company T5 Data Centers Receives $113 Million Loan to Expand T5@Dallas Facility
Data center company T5 Data Centers (T5) has received a $113 million loan to expand its T5@Dallas data center facility in Plano, Texas. The loan comes from funding managed by JP Morgan Chase Bank and includes RBS Citizens Financial Group, Wells Fargo Bank, and financial services company Raymond James. The move comes as a result of "unprecedented demand" for data center services as company's migrate to the cloud (especially to house data) and extend their infrastructures. The current loan means that over the last three years the company has acquired $500 million in investment.
T5 Data Centers offer colocation services to a range of North American organizations. The company owns and operates scalable, highly available data centers facilities in Atlanta, Georgia, Dallas, Texas, Charlotte, North Carolina and Los Angeles. Each provides the environments required to power mission critical business applications. When completed its 247,000-square-foot T5@Dallas data center facility will deliver 22.5 megawatts of IT load power. Future centers are planned in Portland, Oregon and Colorado.
"Market demand and the boom in cloud-based business is driving demand for server-ready facilities, and T5 plans to be at the forefront with affordable, high-performance customizable and turnkey data centers,” explained T5 Data Centers' President and CEO, Peter S. Marin. "We are committed to delivering operational excellence and unsurpassed customer service so our customers can rely on a single source for their enterprise and cloud computing needs. The market is ready for a vendor that can supply extensible enterprise and cloud computing resources as needed."
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