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Atrium tracks $1.3 trillion data center financing as costs rise
Atrium’s platform maps individual deals, including CoreWeave’s $23 billion debt facility and financing tied to Amazon, Microsoft, Google, Meta and Oracle.
Commercial Observer highlights how data centers have become the dominant theme in commercial real estate spending, with Atrium, an AI analytics firm, launching an interactive platform that tracks the money behind the sector’s $1.3 trillion and counting boom.
The platform focuses on both specific transactions and broader funding activity, citing examples such as CoreWeave’s $23 billion debt facility financed by 38 lenders, and the $20 billion debt facilities for DigitalBridge and IFM backed by 24 lenders. It also points to non-bank lenders including PIMCO, which has completed $23 billion in originations, and to major borrowers such as Amazon, Microsoft, Google, Meta and Oracle.
The coverage links the financing surge to rising construction costs, saying demand for mechanical, electrical, plumbing and steel is driving longer lead times and higher costs. Skanska’s Tom Park described the market as cycling between “hot and cold,” while still showing substantial project activity across data centers, semiconductors and life sciences.
Commercial Observer also notes evidence of spillover effects into office markets, citing a CBRE report that New York City has surpassed San Francisco as the largest tech labor market in North America. It adds that AI firms took roughly 800,000 square feet of New York office space in the second quarter of 2026, according to Colliers, underscoring how the data center buildout is reshaping real estate demand.