Serverfarm, a global data centre firm backed by Manulife Investment Management, has added two data centre campuses to its US portfolio.
Serverfarm has acquired the HOU1 and HOU2 data centre campuses in Houston, in a deal that marks the company’s entry into the Texas market and expands its colocation capabilities across the US. The seller was advised by CBRE Data Center Capital Markets.
Serverfarm said the transaction was funded with equity commitments from the Manulife Infrastructure Fund II, Manulife Infrastructure Fund III and its affiliates, Serverfarm’s majority shareholder and other minority shareholders.
The HOU1 data centre facility currently has a capacity of 350,000sqft, while the HOU2 data centre campus spans nearly 500,000sqft across two buildings. Combined, the sites occupy 250 acres of land.
Serverfarm intends to scale up the assets’ capacity in the near term through renovations of existing structures.
Avner Papouchado, CEO of Serverfarm, said: “Serverfarm’s innovative approach to providing near-term capacity directly addresses hyperscale customer requirements in a sustainable, future-proof manner.
“Our entry into Houston is our largest data centre investment to date, demonstrating our continued focus on serving our customers’ needs.”
Recep Kendircioglu, global head of infrastructure at Manulife Investment Management, said: “This acquisition represents a transformational opportunity for Serverfarm and demonstrates its strong development capabilities and ability to provide speed-to-market to hyperscale customers in prime metro locations.
“We are strongly supportive of opportunities that strengthen the market position of our portfolio companies and excited about the acquisition of these two data centres enhancing Serverfarm’s presence in the US.”
In May of last year, Manulife Infrastructure Fund II acquired a controlling stake in Serverfarm. This investment provided Serverfarm with the capital needed to expand its operations across North America, Europe and Israel. The financial terms of the deal were not disclosed.
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