Having received $300 million, Lightstone is focusing on buying existing but more so, unknown data centers and telecom infrastructures, tech-enabled real estate, and new development opportunities.
“As the use of cloud-based data skyrockets and growth of cloud platforms like Amazon and Google continues, there is overwhelming need for large-scale data center facilities that can support these providers and services,” said David Lichtenstein, CEO of Lightstone.
“We’ve launched the platform to capitalize on the opportunity to meet this demand.”
Lightstone’s platform will focus on both primary and secondary markets, including potential expansion into European markets.
The company’s investments will encompass underutilized data center facilities with anchor tenant sales and leasebacks from large enterprise companies, existing technology-related real estate that can support additional leases, and new development opportunities presented by the growth of tech giants and cloud providers.
In January 2019, the platform closed on its first development site, acquiring 2175 Martin Avenue in Santa Clara, California. The site will be a three-story, 88,000 s/f data center and is expected to be delivered early 2021.
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