Digital Crossroads (DX Hammond OpCo, LLC) announced it has completed and closed on the funding for its greenfield data center located on the former State Line Generating Plant in Hammond, Indiana. Digital Crossroads teamed with Star America, a US based infrastructure developer, to co-develop the project. Star America will provide the equity needed for the first 105,000-square-foot phase of the data center project. Bank Street served as exclusive financial advisor to both Digital Crossroads and Star America in connection with this transaction.
“The goal to establish a new world-class data center in Indiana is now within reach thanks to the collaborative efforts of Governor Eric Holcomb’s office, the IEDC, numerous local officials, and financial partners. Strong support from the governor and other state officials made this possible,” reports Peter Feldman, data center developer and the Chief Executive Officer of DX Hammond OpCo d/b/a Digital Crossroads. “Star America and Bank Street were the first groups we approached about being a part of our financing solution. Bank Street’s vast experience in the data center arena will afford further opportunities for expansion and we welcome Star America’s expertise in developing additional infrastructure projects and the support they will be providing through their proven leadership and management”.
“The Digital Crossroads Lake Michigan Data Center is transformative. The Chicagoland area is one of the largest growth markets for data centers. We are thrilled to be a part of the Digital Crossroads team to provide a stable base of capital to ensure delivery of the Project and to expand our work in Indiana,” comments Christophe Petit, President and Managing Partner of Star America.
Richard Lukaj, Senior Managing Director of Bank Street, adds, “the unique combination of Peter Feldman’s experience, Tom Dakich’s ability to articulate, negotiate and document the project, the Indiana economy created by Governor Eric J. Holcomb, the commitment and vision of Hammond Mayor Thomas M. McDermott and the fully committed financing package by Star America results in an extremely potent mission-critical data center offering in the marketplace. Indiana has created one of the best business environments in the country and we feel privileged to work with Peter Feldman to launch this company into this opportunity.”
Ultimately, the company plans to continue building upon this project overtime to potentially a $200 million complex with multiple buildings for state-of-the-art data compute and storage.