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Vantage Data Centers has secured a $735 million refinancing package for three data centers in Goodyear, Ariz., Bisnow first reported.
Wells Fargo, Citibank and Goldman Sachs originated the fixed-rate note. The banks intend to sell the loan as a commercial mortgage-backed security in a deal expected to close in July, according to a Fitch Ratings report. Trimont will serve as master servicer.
The new funds will be used to replace a $560 million existing loan. Additionally, the remaining proceeds will be used for paying estimated closing costs of up to $10.5 million, while $164.5 million of equity will be returned to Vantage Data Centers.