- The property currently offers 10 MVA of utility power, much of it generated through nuclear energy
- There are plans to increase the capacity to 27 MVA
- Grain is a US communications infrastructure and technology-focused private investment firm
Grain Management has acquired a majority interest in 55 Hereford Street, Brampton, Ontario, a state-of-the-art, 127,000-square-foot, Tier III data center.
No financial terms were disclosed for the acquisition, which was made in partnership with StratCap.
The property currently offers 10 mega-volt amperes (MVA) of utility power, much of it generated through nuclear energy, with plans to increase the capacity to 27 MVA. The site has lease up prospects to both hyperscalers and wholesale tenants due to the existing electrical and mechanical infrastructure and additional land for building expansion.
“55 Hereford is a unique, next-generation property centrally situated within the second largest financial hub in North America and in Canada’s business and financial capital,” said Ted Manvitz, a managing director at Grain, in a statement. “This, along with its proximity to other US business hubs like Boston and Chicago, was a big draw for Grain, especially given the availability of power both onsite and in the surrounding area.”
Based in Washington, DC, Grain is a private investment firm that focuses on communications infrastructure and technology companies. StratCap is a Newport Beach, California-headquartered investment platform focused on digital infrastructure.
McCarthy Tétrault and Gowling WLG were legal advisors for the property acquisition and Milbank and Troutman Pepper were legal advisors to the joint venture between Grain and StratCap.