AM Property Holding Corp. recently announced that it has successfully completed a $21 million credit facility for 1025OCR, its 200,000-square-foot technology center, which is home to 1025Connect, Long Island’s premier network-neutral Carrier-Hotel Meet Me Room (MMR) for network interconnection and colocation. Located at 1025 Old Country Road in Westbury, New York, the premier carrier-neutral interconnection facility, which offers direct access to submarine cable systems and terrestrial fiber networks, will enjoy accelerated growth. As part of a recapitalization and strategic financing program, this transaction was led by Metropolitan Bank and Steel Harbor.
1025OCR will utilize the newly-secured capital to augment the facility and improve the operations of the technology center with plans to build a new main entrance. This will provide direct and controlled access to 1025Connect. Additionally, the company will add capacity, improve the resiliency of its power and cooling infrastructure and enhance the security access control system and protocols to support required industry certifications.
“This financing positions us to drive accelerated growth for our 1025OCR technology campus and capitalize on the robust demand that we are seeing for colocation and interconnection at 1025Connect,” stated Jeff Wasserman, Chairman of AM Property Holding. “In addition to the substantial investments that we are making in facilities and infrastructure, we have significantly enhanced the leadership team at 1025Connect with the recent appointments of Frank Zachmann as Executive Director and John Danko as Director of Business Development.”
1025Connect is the premier colocation interconnection facility in Long Island, delivering more than 15 carriers and service providers in the building. This includes Altice/Lightpath, Aqua Comms, CenturyLink, Crown Castle, DE-CIX, Epsilon and Verizon. Strategically located at one of the easternmost points in the U.S., 1025Connect offers direct access to multiple submarine cable systems linking North America, Latin America and Europe. It also delivers the ability to bypass Manhattan fiber routes to provision increased network redundancy and diversity.
Bank Street Group, a private investment banking firm serving growth companies in the communications, media and technology sector, serves as exclusive financial advisor to AM Property in connection with its financial and strategic initiatives for 1025Connect.
To learn more about 1025Connect, please visit www.1025connect.com.