RadiusDC Announces Acquisition of Network-Centric Data Center in Miami

CHICAGO and DENVER, Aug. 13, 2024 /PRNewswire/ -- RadiusDC, a national owner and operator of highly connected, urban-located data centers, today announced its acquisition of Miami I, one of the most highly interconnected data centers in the South Florida market, located in Sweetwater, Florida. RadiusDC acquired Miami I from NextStream, a data center operator in Latin America owned by Actis.

RadiusDC is backed by IPI Partners, LLC ("IPI"), the largest privately held global investment platform exclusively focused on data centers.

Miami I is a two-story building with approximately 170,000 square feet of data center space constructed to withstand Category 5 hurricane winds. RadiusDC anticipates Miami I has the potential to support more than 15 total megawatts (MW) of critical IT power capacity. The facility is a carrier-neutral, telecommunications-focused data center serving latency-sensitive workloads in South Florida, offering connectivity to European and South American markets. The building's significant "meet-me-room" provides robust and scalable connectivity to 11 fiber optic and network service providers.

RadiusDC, through its support from IPI, plans to immediately further invest in Miami I to expand the site's capacity from 3.2 MW to 9.2 MW of critical IT power capacity and continue to bolster the existing connectivity ecosystem. The initial phase of construction is expected to be completed during the first half of 2026.

"We believe Miami I is an ideal asset to expand the geographic reach of our connectivity-focused platform given the strength of its existing network and immediately available growth potential," stated Mike Krza, Chief Executive Officer of RadiusDC. "We are excited to deliver new strategic data center capacity in the South Florida market over the coming year."

"The Miami I acquisition represents an important milestone in our plan to expand the RadiusDC platform. These assets allow us to address another important edge market with significant expansion capacity for our core hyperscale customer base in a highly connected environment," added Christopher Jensen, Managing Director of IPI.

"Data centers are crucial in connecting communities, enabling economic growth, and in providing access to information and education," commented Mauricio Giusti, Partner at Actis. "With this sale, we have found a strong buyer in RadiusDC, and we look forward to seeing Miami I grow under its new ownership, as NextStream continues to focus on the rapidly expanding Latin American market." 

Greenhill, a Mizuho affiliate, and Akin Gump Strauss Hauer & Feld LLP served as financial advisor and legal advisor, respectively, to RadiusDC. BBVA served as financial advisor and Pinheiro Neto Advogados and Holland & Knight served as legal advisors to Actis and NextStream.

Financial terms of the transaction were not disclosed.

About RadiusDC

Meeting the colocation demands of tomorrow, RadiusDC owns and operates facilities in strategically located population centers throughout North America. Serving a wide variety of network operators, carriers, MSOs, and content providers, RadiusDC supports the increasingly urgent requirement to expand IT infrastructure to the network edge. For more information, please visit radius-dc.com.

About IPI Partners

IPI Partners, LLC ("IPI" or the "Firm") is a leading global hyperscale data center platform, solving the most complex digital capacity challenges for the largest technology companies in the world. Since its formation, IPI has partnered with hyperscalers to ensure they have the mission critical infrastructure to move their businesses – and the world – forward. As of June 30, 2024, IPI was the largest global investment platform exclusively focused on data centers, with more than $20 billion in total equity and debt commitments and a portfolio encompassing 80 operational and under-construction facilities across 29 markets in North America, Europe, and APAC. The firm is headquartered in Chicago, with over 70 investment professionals located in Amsterdam, Dallas, New York, San Francisco, and Washington, DC. For more information, please visit ipipartners.com.

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SOURCE RadiusDC