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DataBank Expands Red Oak Campus
Coverage from The Real Deal, DataBank, and others
DataBank secured $1.
45 billion in additional financing for its Red Oak, Texas campus, bringing total campus financing to $2.65 billion. The financing supports a fourth building with 60 megawatts of additional IT capacity, alongside a first phase of three buildings totaling about 600,000 square feet and 180 megawatts. The expansion shows how large customer commitments and Texas demand are supporting continued construction, while DataBank prepares for a CEO transition in 2027.
The main update is a modest reframing of the Red Oak expansion from a financing-and-succession story into one showing active construction momentum, with a fourth building now funded and Texas demand cited as supporting continued buildout.
The story now adds a concrete leadership succession plan alongside the financing update, with Kevin Ooley designated to replace Raul Martynek in 2027. The Red Oak financing details are also slightly sharpened, including the revolver and the broader eight-building campus plan.