CIM Group has recently closed on a $125 million loan commitment, with the potential to increase up to $200 million, for Applied Digital. This company specializes in High-Performance Computing (HPC) data center solutions and will use the funds for their HPC Campus construction in Ellendale, North Dakota.
According to Avi Shemesh, Co-Founder and Principal of CIM Group, “As long-term investors in digital infrastructure, we appreciate and support Applied Digital’s efforts towards diversifying into next-generation digital infrastructure that serves global technology companies.”
Construction on the first building of this campus began in October 2023. The 100 MW data center spans over 342,000 square feet. Additionally, Applied Digital has secured an exclusivity agreement and signed a letter of intent with a U.S.-based hyperscaler for a lease capacity of 400 MW at this campus.
Wes Cummins , CEO of Applied Digital stated that “CIM’s financing facility will play an integral role in solidifying our position as one of the top HPC data center owners and operators.”
The article was originally published by Connect CRE.
