PACE Loan Group closed an $11.6 million C-PACE financing for the Vesgro Data Center being developed in Irving, Texas, by Infrascale Systems, a Dallas-Fort Worth data center developer.
The loan will be used to convert a vacant 113,406 sq. ft. industrial-flex property into a 3.0 MW colocation data center, delivering approximately 45,000 square feet of raised-floor data hall space. Lone Star PACE, the foremost C-PACE administrator in Texas, facilitated the closing.
Infrascale partnered with the Vesgro, site’s owner, who had planned to lease the property at 6001 Campas Circle Drive West as a distribution facility. However, considering its 8.5MW power allocation and the growing demand for Tier IV data centers, decided this was a better use. The renovation is underway and expected to be complete by September 2026. The C-PACE financing will fund improvements to HVAC systems, lighting, electrical infrastructure, generators, and the building envelope.
“This property started as a first-generation data center in the 1980s, when needs were completely different. We will be able to leverage the underlying power by adding modern infrastructure to create a premier enterprise colocation facility,” said Brad Lonberger, CEO of Infrascale.
Set on a 4.69-acre site, the two-story commercial building was built in 1981. It sits near key transportation corridors and strong infrastructure networks, including fiber routes, power transmission lines, and utility corridors, which enhance network connectivity and redundancy, both critical for data center operations.
Robbie Pinkas, senior vice president – PACE Loan Group, originated the loan on behalf of Infrascale. Pinkas also originated a $100 million loan for Patmos’ conversion of the former Kansas City Star printing press into a data center last year. “Given the demand for data centers across the country, we are increasingly seeing conversions of existing industrial projects or specialized facilities into data centers. C-PACE financing is an ideal solution given the electric and mechanical expenses needed to convert those spaces,” he said.
Cloudium will manage the new colocation data center’s day-to-day operations, including cabinet leasing, staffing, and oversight of critical infrastructure.
The location, adjacent to DFW Airport and the Beltline Transit Station, offers significant logistical advantages for clients, local and abroad.
