Acquisition completes early investment cycle in the redevelopment of the western suburban Chicago facility as a multi-tenant colocation and interconnection data center
IT infrastructure service provider, New Continuum Holdings Corporation, which operates New Continuum Data Centers (New Continuum), has announces the acquisition of the company’s flagship mission critical data center located at 603 Discovery Drive in West Chicago, Illinois. The facility, which was officially acquired in late December, was originally purpose-built as a data center by the previous owner. Post Road Group, a leading real estate bridge lender and investor in U.S. middle-market telecommunications infrastructure, provided the senior debt financing for this transaction.
“We are excited about providing New Continuum capital to finance the acquisition of this data center. We look forward to working with the New Continuum team as they continue to execute their business plan,” said Jason Carney, Managing Director, Post Road Group.
New Continuum began leasing the property in the fall of 2013 when it commenced construction on a redevelopment project for the building. The Company began operating a multi-tenant data center on the premises in 2015 when the initial construction was completed, and then added incremental cooling capacity in the summer of 2018. Leveraging the rich infrastructure of the existing facility, New Continuum has established itself as a leader in innovating and adopting new technologies in multi-tenant data center services.
“This is a major milestone for New Continuum,” adds Eli D. Scher, founder, Chairman and CEO of New Continuum, “When we began this re-development project, it was always our objective to eventually own the underlying real estate asset as well. With this transaction completed, we can now begin the next chapter in New Continuum’s evolution as an owner and operator of this critical data center.”
In addition to the upgrades already made in the physical plant, New Continuum has invested heavily in recruiting world-class engineers and constructing next generation connectivity services. New Continuum also engages in broader, community-wide efforts to support its customers’ activities. The flagship data center is Open-IX certified and New Continuum is a member of the Open19 Foundation as well as the Enterprise Ethereum Alliance.
To learn more about New Continuum please visit: newcontinuum.net.
About New Continuum Data Centers
New Continuum Data Centers (New Continuum or NCDC) is a multi-tenant data center operator in the western Chicago suburbs. NCDC operates an 80,000 square foot, purpose-built, concurrently maintainable facility in West Chicago, IL. NCDC offers highly flexible wholesale and retail colocation services to enterprises and small businesses. New Continuum’s products range from basic colocation to private cages, private suites and secured data halls. Additionally, NCDC offers unique connectivity and peering solutions through its partnership with United IX. New Continuum’s 2N power design can accommodate some of the highest density cabinet footprints, and with its efficient technologies and robust cooling infrastructure it can deliver leading edge PUEs. To learn more, please visit www.newcontinuum.net, or call 877-432-2656.
About Post Road Group
Post Road Group is a privately held, SEC registered investment advisor based in Stamford, CT. Post Road invests across various industries, with a focus on real estate, telecommunications, media, technology (TMT), and healthcare services. Post Road provides flexible bridge, mezzanine and preferred equity financing solutions to real estate owners throughout the United States. Visit: www.postroadgroup.com.