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Phillips Arranges $62M for Data Center Near Atlanta

Bethesda, MD-based Phillips Realty Capital closed and funded two transactions totaling $62.2 million on behalf of Legacy Investing, LLC. The financing was used for the acquisition and joint venture operation of a fully-leased Tier IV data center located in Alpharetta, GA.

Phillips Realty Capital’s Adam Bieber and William Lawson structured the debt and equity for the partnership. Guggenheim Partners provided a balance sheet loan on behalf of one of their separate accounts in the amount of $41.9 million of permanent financing for the acquisition.

An unnamed private equity investment firm provided $20.3 million to form a joint venture with Legacy, to acquire and operate the data center.

The 165,000-square-foot mission critical data center sits on a 14.46-acre site located at 1650 Union Hill, and is comprised of 50,440 square feet of raised data space and 58,814 square feet of office space, with the remaining space occupied by data center infrastructure.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.