DALLAS, Jan. 6, 2020 /PRNewswire/ -- DataBank, a
leading provider of enterprise-class data center, connectivity and
managed services, today announced that Colony Capital (NYSE: CLNY)
has made a $185 million investment
into DataBank through the purchase of secondary equity interests
from existing investors Edgewater Funds and Allstate. Allstate will
retain 50% of its interests and continue as a DataBank investor,
while Edgewater will fully exit from its position. Nuveen will also
continue as an important investor in DataBank, holding its original
stake.
The transaction represents Colony Capital's inaugural direct
balance sheet investment in digital real estate and its first step
in investing in the edge/colocation data center
sector. Edgewater's Board Member will step down and be
replaced by Justin Chang, Colony's
Global Head of Private Equity.
"We are truly appreciative of the support we have received from
Edgewater over these last four years," stated Raul K. Martynek, CEO of DataBank. "We look
forward to having Colony Capital and its long-term investment
vision behind DataBank as we continue to grow our platform."
"We are thrilled to be partnering with DataBank, its management
team and investor group, to continue building the premier
edge/colocation data center platform in the United States," said Justin Chang. "We look forward to supporting the
business with additional capital to fund potential add-on
acquisitions and greenfield edge data center developments."
"We want to thank the team at DataBank and our partners at
Digital Colony for delivering a successful outcome for Edgewater.
We wish DataBank and its management team continued success as it
moves ahead," stated The Edgewater Funds.
DataBank operates 20 data centers in 9 US markets, including
Dallas, Minneapolis, Kansas City, Cleveland, Pittsburgh, Salt
Lake City, Baltimore,
Atlanta, and Indianapolis. For more information, please
visit www.databank.com.
About DataBank
DataBank is a leading provider of
enterprise-class data center, cloud, and connectivity services,
offering customers 100% uptime availability of data, applications,
and infrastructure. DataBank's managed data center services are
anchored in world-class facilities. Our customized technology
solutions are designed to help customers effectively manage risk,
improve their technology performance, and allow them to focus on
their core business objectives. DataBank is headquartered in the
historic former Federal Reserve Bank Building, in downtown
Dallas, TX. For additional
information on DataBank locations and services, please visit
www.databank.com or call 1 (800) 840-7533.
About Colony Capital
Colony Capital, Inc. (NYSE: CLNY)
is a leading global investment management firm with assets under
management of $49 billion, which
includes approximately $14 billion of
assets under management from Digital Bridge, a leading global
investment manager of digital infrastructure assets including
wireless towers, small cells, fiber and data centers. The Company
manages capital on behalf of its stockholders, as well as
institutional and retail investors in private funds, and traded and
non-traded real estate investment trusts. The Company has
significant holdings in: (a) the healthcare and hospitality
property sectors; (b) Colony Credit Real Estate, Inc. (NYSE: CLNC),
which is externally managed by a subsidiary of the Company; and (c)
various other equity and debt investments. The Company is
headquartered in Los Angeles with key offices in Boca Raton, New
York, Paris and London, and has over 400 employees across 21
locations in 13 countries as a result of the business combination
with Digital Bridge. For additional information regarding the
Company and its management and business, please refer to
www.clny.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In
some cases, you can identify forward-looking statements by the use
of forward-looking terminology such as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes,"
"estimates," "predicts," or "potential" or the negative of these
words and phrases or similar words or phrases which are predictions
of or indicate future events or trends and which do not relate
solely to historical matters. Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond our control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement. Factors that might cause such a
difference include, without limitation, DataBank's ability to
identify and consummate add-on acquisitions or greenfield edge
data center developments, as well as whether Colony Capital will
contribute any additional capital towards such acquisitions or
developments, and other risks and uncertainties detailed in Colony
Capital's filings with the U.S. Securities and Exchange Commission
("SEC"). All forward-looking statements reflect Colony Capital's
good faith beliefs, assumptions and expectations, but they are not
guarantees of future performance. Additional information about
these and other factors can be found in Colony Capital's reports
filed from time to time with the SEC.
Colony Capital cautions investors not to unduly rely on any
forward-looking statements. The forward-looking statements speak
only as of the date of this press release. Colony Capital is under
no duty to update any of these forward-looking statements after the
date of this press release, nor to conform prior statements to
actual results or revised expectations, and Colony Capital does not
intend to do so.
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SOURCE DataBank