JPMorgan Chase (JPM) and Starwood Property Trust (STWD) have agreed to provide a $2 billion construction loan for a 100-acre data center campus in West Jordan, Utah, The Wall Street Journal reported Tuesday.
The borrower is a venture of real estate investor CIM Group and Novva Data Centers, according to the report.
JPMorgan, Starwood, CIM, and Novva did not immediately reply to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.