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Blackstone Provides $600M Credit Facility for Utah Data Center

Blackstone Provides $600M Credit Facility for Utah Data Center 

Blackstone Credit & Insurance (BXCI) has provided a $600 million senior secured credit facility to support the development of Aligned Data Center’s SLC-03, the tech infrastructure company’s “newest and largest” data center in West Jordan, UT. 

The credit facility is committed entirely by insurance accounts managed by BXCI’s Infrastructure & Asset Based Credit Group. 

The data center is a two-story, 80 MW build-to suit project on its hyperscale campus in West Jordan, which is now home to three facilities. This is Aligned’s fourth hyperscale data center in the Salt Lake City metro area. 

“Aligned is one of the fastest growing data center platforms in the Americas and has a focus on sustainability – we look forward to working with the Aligned team to support their continued growth,” said Alan Carcich, principal, infrastructure & asset-based credit at BXCI. 

In December 2023, Blackstone formed a joint venture with Digital Realty to build four hyperscale data center campuses in Frankfurt, Paris, and Northern Virginia with an estimated cost of nearly $7 billion. 

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.