Colony Capital is continuing to expand its digital footprint and announced a massive $3.5-billion partnership with Vantage Data Centers. The firm will invest $1.2 billion in Vantage’s portfolio, which includes 12 data centers in North America spanning more than 1.4 million gross square feet, according to a press release provided by the firm.
- Why it matters: The partnership is reflective of Colony’s pivot from industrial warehouses to digital infrastructure around the world. Last year, the firm started moving towards tech-based real estate as more infrastructure is needed for the rollout of advancements like 5G. Shares of the REIT are down over 51% year-to-date. [CO]