The Daily Dig:
Serverfarm, a data center platform backed by Manulife Investment Management, has locked down a $3.0 billion credit facility to fund the development and construction of several hyperscale data center campuses across North America. The financing wrapped up in December 2025 and came through a syndicate of 23 institutional lenders, with TD Securities acting as administrative agent and joint lead arranger.
The company said the facility will bankroll large scale campus buildouts and expansion work, including a new hyperscale campus in Houston's energy corridor and capacity additions in Georgia and Canada. The capital is meant to speed up delivery of high density, AI-ready infrastructure as hyperscale tenant demand keeps climbing.
Snapshot:
Company / Platform: Serverfarm
Ownership / Backing: Manulife Investment Management (on behalf of its clients)
Transaction type: Credit facility
Amount: $3.0 billion
Close timing: December 2025
Lenders: Syndicate of 23 institutional lenders
Administrative agent / arranger: TD Securities (administrative agent and joint lead arranger)
Use of proceeds: Development and construction of multiple hyperscale data center campuses
Geography / footprint: Strategic North American markets
Houston hyperscale campus: 250 acre site in the Houston energy corridor; 500MW+ potential; dual on-site substations
Georgia expansion: 498,960 SF in Covington, GA; 60MW critical IT capacity; single hyperscale tenant
Toronto expansion: 4MW capacity expansion at existing Toronto data center
TheJobWalk Thoughts:
This is committed capital with named projects and shovel ready sites, not vague growth money sitting in reserve. When a $3B facility gets backed by 23 lenders, you're looking at long cycle, infrastructure heavy work tied to real hyperscale commitments. For contractors and suppliers, the upside is clarity: known sites, repeated scopes across geographies, and work that's anchored to signed hyperscale tenants instead of speculative development. That kind of pipeline visibility matters when you're staffing teams and locking in material allocations months out.
