Stonepeak And CoreSite Form Joint Venture To Develop 18MW Data Center In Denver
Portfolio Pulse from Benzinga Newsdesk
Stonepeak and CoreSite have formed a joint venture to develop an 18MW data center in Denver. Stonepeak holds 85% equity, while CoreSite holds 15%. CoreSite will operate the DE3 facility, and the investment is made through the Stonepeak Opportunities Fund.
July 31, 2024 | 3:42 pm
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POSITIVE IMPACT
American Tower Corporation (AMT) is indirectly mentioned as CoreSite, a subsidiary of AMT, enters a joint venture with Stonepeak to develop an 18MW data center in Denver.
As CoreSite is a subsidiary of American Tower Corporation, the joint venture to develop a new data center could have a positive indirect impact on AMT's stock price due to potential growth in CoreSite's operations.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
CoreSite has entered a joint venture with Stonepeak to develop an 18MW data center in Denver, holding 15% equity and operating the DE3 facility.
CoreSite's involvement in the joint venture to develop a significant data center in Denver is likely to positively impact its stock price in the short term due to the expansion of its operational capacity and potential revenue growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100