NJ Data Center Company Purchased by Cologix
- Nov 30, 2015
Cologix, a network neutral interconnection and data center company announced it has completed the previously announced acquisition of New Jersey-based colocation and workspace recovery provider Net Access.
The merger adds three enterprise-grade facilities in Northern New Jersey to the Cologix portfolio, totaling more than 200,000 gross square feet. The three Net Access data centers are approximately 30 miles outside New York City, over 250 feet above sea level and connected via a dark fiber network that extends to key carrier hotels for access to robust connectivity options.
Cologix increased its existing Credit Facility to $375 million to provide financing for the acquisition. TD Securities and CIT Group are joint lead arrangers and joint bookrunners for a new First Lien Term Loan with ING as syndication agent and CIT as documentation agent. Goldman Sachs Specialty Lending Group is the sole lead arranger and administrative agent for a new Second Lien Term Loan. Existing and new credit partners rounded out the remainder of the commitments.
Cologix’s network neutral data center portfolio now includes a total of 700,000 square feet in 24 facilities in 9 North American markets: Columbus, Dallas, Jacksonville, Lakeland, Minneapolis, Montreal, Northern New Jersey, Toronto and Vancouver. The platform supports more than 1,600 customers. The company is focused on unique, growing markets that offer alternatives to legacy data center hubs.
Image: Victorgrigas (via Wikimedia Commons)