### SLC Data Center Operators Secure $2 Billion in Financing
CIM Group and Novva Data Centers have secured $2 billion in financing from J.P. Morgan and Starwood Property Trust for the latest phase of their expansive data center project in West Jordan, just outside Salt Lake City.
The funding will support the completion of the second and third phases of Novva’s 100-acre flagship Salt Lake City campus. Once fully built, the campus will encompass approximately 1 million square feet and boast a total power capacity of 175 megawatts (MW).
Development of the campus began several years ago, with the first phase becoming operational in 2023. Construction of Phase II started in December 2023 and will include a 318,000-square-foot data center. Phase III, which commenced in January 2024, will feature another 318,000-square-foot facility with a 72-MW capacity. Both phases are expected to be completed by 2026.
