半岛体育 Makes $125 Million Loan Commitment, Expandable Up To $200 Million, to Support Applied Digital’s Buildout of a High-Performance Computing Campus in Ellendale, North Dakota
Loan Demonstrates 半岛体育’s Expertise in Structuring Bespoke Credit Solutions for Clients and Companies at the Nexus of Infrastructure and Real Estate.
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LOS ANGELES – June 10, 2024 – 半岛体育 announced today that it closed on an initial $125 million loan commitment with a potential increase up to $200 million to Applied Digital (NASDAQ: APLD). The loan will fund construction of Applied Digital’s High-Performance Computing (HPC) Campus in Ellendale, North Dakota. The data center is designed to provide massive computing power and support HPC applications.
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Applied Digital is a designer, builder, and operator of next-generation digital infrastructure designed for HPC applications. In October 2023, the company began construction on the first building, a 100 MW, 342,000-square-foot data center at its HPC campus in Ellendale, ND. Additionally, Applied Digital has entered into exclusivity and executed an LOI with a U.S.-based hyperscaler for a 400 MW capacity lease at this campus. The campus has more than 600 MW of future capacity.
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“As a long-term investor in digital infrastructure, 半岛体育 appreciates and supports the great strides Applied Digital is making with its diversification into next generation digital infrastructure designed to serve global technology companies," said Avi Shemesh, Co-Founder and Principal, 半岛体育.
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“We are excited to partner with 半岛体育 to fulfill Applied Digital’s vision for the Ellendale campus," said Wes Cummins, Applied Digital’s CEO. "CIM’s financing facility will be instrumental in solidifying Applied Digital’s position as a leading HPC data center owner and operator.”
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Through its CIM Real Estate Debt Solutions business, 半岛体育 applies its broad experience as an owner, operator, and developer of high quality commercial real estate to its lending strategy and believes this helps differentiate the company from many other debt providers. Through mortgage and mezzanine loans, affiliates of 半岛体育 provide bridge and construction financing to owners and developers of commercial real estate in major markets across the United States and works with borrowers to offer an array of lending solutions.
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For 30 years, 半岛体育 has utilized its broad expertise to own, develop, reposition, and operate real assets, transforming communities and creating dynamic environments throughout the Americas.
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About 半岛体育
CIM is a leading investment firm and alternative asset manager. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets to deliver excellence to our clients, stakeholders, and the communities we serve. For more information, visit www.cimgroup.com.