Real Estate
Home›Real Estate›Industry›Data centers hold at least $1.3T in US debt as lenders…
Data centers hold at least $1.3T in US debt as lenders race
AtriumData.ai research counts 4,296 financing facilities, including 255 under construction and 941 in planning, with the top 15 lenders funding an estimated $196B or 15% of the total.
U.S. data centers and related infrastructure carry at least $1.3 trillion in debt, according to new research from AtriumData.ai, a banking intelligence platform cited by Bisnow. The total is roughly the size of Saudi Arabia’s economy and likely understates the true figure because some private credit and deal structures are harder to track through standard disclosures.
The report compiled financing data by cross-referencing county-level mortgage data with loan databases, regulatory filings, and corporate balance sheets. It covers 4,296 facilities nationwide, including 255 under construction and 941 in the planning stages, alongside 3,038 operational projects.
Bisnow reports that data center lending is coming from a dispersed set of lenders, with the top 15 underwriting an estimated $196 billion in loans, about 15% of the total. Total development has surged, with 1,258 projects in some stage of development, and the number of operational sites up 42% from the operational base.
Utility and infrastructure loans make up the largest slice of the debt at $428 billion, nearly double the next biggest sources, syndicated facilities and hyperscaler corporate credit, each around $225 billion. Among the biggest direct lenders tracked, Bisnow highlights a bank with 26.8 billion in data center debt, and notes TD Bank has $14.8 billion in direct loans secured by data center properties.