Right now, we are seeing a tremendous amount of growth and expansion throughout the data center industry as providers continuously upgrade infrastructure to keep pace with evolving customer demands.
1025 Old Country Road, for instance, has announced the closing of a $14 million senior secured credit facility to fortify critical enhancements to the building’s supporting infrastructure and network, including its power and cooling capacity. The 200,000-square-foot facility, located in Westbury, New York, is home to 1025Connect, Long Island’s premier network-neutral Meet-Me Room (MMR) for network interconnection and colocation.
“We are seeing strong demand for our interconnection facility that offers unmatched international carrier connectivity and a unique bypass alternative to New York City,” stated Jeff Wasserman, Owner of 1025 Old Country Road and Chairman of 1025Connect. “This infusion of new capital will support our ability to build inventory and increase capabilities to meet burgeoning customer demand. We will continue to invest in our core infrastructure in order to enhance our platform going forward.”
Located on the ‘Continental Edge’ at the easternmost peering point the U.S., 1025Connect offers direct access to a myriad of submarine cable systems traversing multiple continents and regions, including North America, Europe, Africa and Latin America. In addition, 1025Connect offers the ability to bypass crowded and expensive Manhattan fiber routes for greater diversity and network redundancy.
The growth capital provided through this transaction was necessary to meet the needs of the numerous network operators that are currently available in the facility, including metro and regional dark fiber, transatlantic subsea cable systems and transport networks. The investment will also support the expansion of new European, North American and Latin American networks entering the facility.
Meridian Capital Group arranged the senior secured debt financing for this project, and Bank Street Group is serving as the exclusive financial advisor to 1025Connect.
To learn more about 1025Connect, click here.
