Brookfield-owned data center operator Centersquare is ramping up in a big way.
The Coppell-based company is spending $1 billion to buy 10 properties across the U.S. and Canada, boosting its portfolio to 80 facilities as AI and cloud computing fuel demand, the Dallas Business Journal reported.
The deal includes several colocation centers in Dallas, Nashville and Toronto, plus two sites in Boston and Minneapolis that Centersquare had previously operated under long-term leases.
The all-cash purchase was self-funded, the company said.
CEO Spencer Mullee said adding capacity in strategic markets will position Centersquare to capture surging demand for data infrastructure.
Centersquare, headquartered at 3100 Olympus Boulevard in Cypress Waters — a 1,600-acre master-planned development centered on North Lake in Coppell, Northwest of Dallas — operates in 26 markets and has emerged as one of the sector’s most aggressive consolidators. The company was formed earlier this year after Brookfield Infrastructure Partners bought Cyxtera Technologies for $775 million and merged it with Evoque Data Center Solutions.
Capital is pouring into the data infrastructure sector, particularly in Texas, where cheap power and available land have made the state a hub for AI and cloud development.
Fermi Real Estate Investment Trust, a company backed by former Gov. Rick Perry, recently launched a $550 million initial public offering with plans to develop “Project Matador,” a 5,000-acre advanced energy and intelligence campus aiming to attract data center and hyperscaler tenants. Plans call for energy production for the site: 11 gigawatts of power by 2038 from natural gas, solar and nuclear sources.
Gov. Greg Abbott said last month he expects a wave of data center projects in the coming years worth hundreds of billions of dollars.
Tech heavyweights including OpenAI, Oracle and SoftBank are already backing billion-dollar campuses across Texas and chasing tax breaks, with the first now under construction in Abilene.
— Eric Weilbacher
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