- DataBank secured a $2B construction loan for three new Red Oak data centers.
- The facilities total 600K SF, delivering 180 MW to serve AI and cloud demand.
- This financing accelerates project timelines by 18 months.
- Texas is on track to become the nation’s leading data center market.
Major Financing Fuels Growth
Bisnow reports that DataBank has secured a $2B construction loan. The funding will support three data center facilities at its 300-acre Red Oak campus near Dallas. The development spans 600K SF and will provide 180 MW of capacity to support artificial intelligence and traditional computing. This marks the largest loan DataBank has secured, increasing its total financing to $4.7B over the last year.
Accelerated Construction Timeline
The financing will allow DataBank to complete the Red Oak data centers about 18 months ahead of previous schedules. DFW9, the first facility, began construction in 2024 and is set for delivery in 2025, while DFW10 and DFW11 will finish in 2028. All three are fully leased and will be the first of eight buildings planned for the campus.
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Texas Data Center Expansion
Texas is emerging as a leading market for data center development. Developers benefit from abundant power, available land, and a business-friendly climate. These factors continue to attract large-scale projects across the state. According to JLL, Texas is on track to surpass Virginia in total data center capacity, as capital continues to flow into large-scale projects through structured financing and securitization deals tied to operating assets. Dallas–Fort Worth leads the state with 2.4 GW of capacity. This growth reflects strong demand and sustained investment.
AI demand is accelerating expansion across major hubs. At the same time, developers are advancing a large pipeline of projects under construction. This momentum continues to push capacity higher.
Supporting Infrastructure and Workforce
As new data center capacity comes online, the industry is grappling with a shortage of fiber technicians. To address this, CBRE has partnered with Meta to train thousands of workers for next-generation infrastructure projects. Meta, the parent company of Facebook and Instagram, continues to expand its own data center footprint nationwide, pushing demand for skilled labor higher as AI adoption rises.
