Brookfield-owned Centersquare is expanding its presence in the data center market with a $1 billion investment to acquire 10 properties across the United States and Canada. The purchase brings the company’s portfolio to 80 facilities as demand for data infrastructure grows due to the rise of artificial intelligence and cloud computing.
The acquisition includes several colocation centers in Dallas, Nashville, and Toronto, along with two sites in Boston and Minneapolis that Centersquare previously operated under long-term leases. The company stated that the all-cash transaction was self-funded.
CEO Spencer Mullee commented on the expansion, saying, “Adding capacity in strategic markets will position Centersquare to capture surging demand for data infrastructure.”
Centersquare, based at 3100 Olympus Boulevard in Cypress Waters, Coppell, operates in 26 markets. The firm was formed earlier this year after Brookfield Infrastructure Partners acquired Cyxtera Technologies for $775 million and merged it with Evoque Data Center Solutions.
Investment continues to flow into the data infrastructure sector, especially in Texas, where low energy costs and available land have contributed to the state becoming a center for AI and cloud development. Fermi Real Estate Investment Trust, backed by former Governor Rick Perry, has launched a $550 million initial public offering with plans for a 5,000-acre advanced energy and intelligence campus, aiming to attract data center tenants and hyperscalers. The project, known as “Project Matador,” is planned to have an energy production capacity of 11 gigawatts by 2038, using natural gas, solar, and nuclear sources.
Texas Governor Greg Abbott recently stated his expectation of a wave of data center projects worth hundreds of billions of dollars over the coming years. Major technology companies, including OpenAI, Oracle, and SoftBank, are supporting billion-dollar data center campuses across Texas, with some already under construction in Abilene.
