Elk Grove Data Center Secures $375 Million CMBS Financing
The DATA 2026-800D Mortgage Trust is set to issue a $375 million CMBS deal backed by a newly redeveloped data center in Elk Grove Village, Illinois. The financing involves a first-lien mortgage with a five-year repayment plan and a projected closing date of September 24, 2026.
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The Elk Grove data center spans 174,000 square feet and provides 30 megawatts of capacity. It is secured by an interest from TechCore and GI Partners ETS Fund, with net cash flow (NCF) projected at $41.6 million, reflecting a 26.9% decrease from earlier estimates.
Barclays Capital Real Estate and Goldman Sachs Bank USA are co-originating the loan, while Berkadia Commercial Mortgage will serve as the loan servicer. The transaction will close on September 24, 2026, with loan proceeds funding the property acquisition for approximately $730 million, including $100 million in closing costs. The facility is fully leased to a single investment-grade global tenant, which presents both a concentration risk and potential stability due to the tenant's credit profile.
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