Data Center Financing — All 50 States

Data Center Development
Capital.

Senior debt and mezzanine capital for hyperscale, colocation, powered shell, and edge data center development — from $20M to $150M+, with construction advisory through delivery.

Loan Amount
$20M – $150M+
Max Leverage
75% LTC
Typical Close
60 Days
Structures
Senior + Mezz

What We Finance

Data center transactions across the development and stabilization lifecycle.

/Ground-up hyperscale and colocation development
/Powered shell and powered land acquisition
/Edge and regional data center build-out
/Substation, switchgear, and power infrastructure costs
/Tenant improvement and fit-out financing
/Conversion of industrial or office assets to data center use
/Pre-leased build-to-suit development
/Recapitalization of stabilized, leased facilities

What Drives The Underwriting

Data center deals turn on a different set of factors than conventional real estate.

FACTOR 01

Power

Contracted capacity, interconnection status, and delivery timeline. Secured power is often the deciding factor on financeability.

FACTOR 02

Tenancy

Pre-leasing, tenant credit, and lease term. Pre-leased and build-to-suit projects price materially better than speculative ones.

FACTOR 03

Construction Risk

Specialized MEP scope, equipment lead times, and GC experience with mission-critical delivery.

Data Center FAQ

Common questions from developers and capital partners on data center financing.

How large a data center loan can Zion arrange?

Data center transactions start at $20M and run to $150M and above. Larger projects are placed through our institutional debt fund, life company, and private credit relationships, often as a senior loan with a mezzanine tranche behind it.

Do you finance speculative data center development?

Pre-leased and build-to-suit projects are meaningfully easier to finance and price better. Speculative development is considered where the sponsor has secured power, entitlements, and a credible leasing strategy in a proven market.

How is power capacity treated in underwriting?

Secured, contracted power is one of the most important underwriting factors in this asset class. Utility commitments, interconnection agreements, and delivery timelines are reviewed closely, since power availability often drives both project value and schedule risk.

What construction advisory do you provide on data center projects?

Our advisory team supports entitlements, pre-construction budgeting, GC selection, and draw and fund control through delivery. Data center construction carries specialized MEP scope, and oversight of that scope protects both the sponsor and the lender.

Which markets do you lend in for data centers?

We arrange data center financing in all 50 states, including established hubs and emerging secondary power markets.

Next Step

Bring us the project.

Send the site, power position, leasing status, and total project cost. We will come back on structure, leverage, and whether a mezzanine tranche makes sense.

Get A Term Sheet
$20–150M+Loan Range
75%Max Loan To Cost
50States Covered