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Good morning. Welcome to CREalts! Every day, we cover the top stories in alternative CRE sectors. One scroll saves you hours. Today, we learn about a potential steel-mill-to-data-center conversion and Apollo’s $2B apartment joint venture.
Today’s issue is sponsored by DealNav - the simple and affordable CRM and deal management tool with an easy interface and integrated map.
STEEL YOURSELF: TerraWatt Global may buy a shuttered 381 AC Illinois steel mill to redevelop it as a data center. Read more here.
APARTMENT CAPITAL: Apollo will invest $1.34B for a two-thirds stake in UDR’s 19-property, $2B apartment portfolio. Read more here.
GROCERY GRAB: PSP Investments and Nuveen launch $790M joint venture holding 19 grocery-anchored shopping centers across 8 states. Read more here.
WAREHOUSE WIN: BGO acquires fully leased, 132,055 SF Massachusetts warehouse for $34.9M. Read more here.
DATA CENTER: Solar AI lands up to $1B equity facility to expand Ohio AI campus. Read more here.
DATA CENTER: Google confirmed as buyer of 94 AC data center city in Roanoke Co., VA. Read more here.
DATA CENTER: Westfield kills Servistar’s $3B data center campus by denying permit extension. Read more here.
DATA CENTER: Meta named as developer of $10B campus on nearly 3,000 AC in Kentucky. Read more here.
DATA CENTER: Carrier Connect leases 4MW, 184,555 SF data center near Atlanta. Read more here.
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NAT GAS: Energy Dept. offers up to $42M to advance the proposed 125-mile Constitution natural gas pipeline from Pennsylvania to New York. Read more here.
FUEL CELL: American Electric Power plans to invest about $4B in 702 MW fuel cell project near Cheyenne, WY, to supply Google under 20-year agreement. Read more here.
ENERGY: NiSource signs 20-year agreement to serve Microsoft’s northwest Indiana data center campus. Read more here.
ENERGY: Entergy Arkansas, Google outline roughly $600M in grid, battery, and solar investments to support Google’s expanding West Memphis data center campus. Read more here.
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