US investment firm I Squared Capital has acquired a portfolio of data centers from fiber provider Cogent Communications.
The companies this week announced they had entered into a purchase and sale agreement for I Squared to acquire a portfolio of ten data center facilities from Cogent for $225 million in cash. The deal is expected to close in Q3 2026.
A Cogent data center – Cogent Communications via LoopNet
The portfolio comprises approximately 53MW of installed power capacity and approximately 259,000 sq ft (24,060 sqm) of available colocation space across nine US markets: Chicago, Atlanta, Phoenix, Los Angeles, Kansas City, Baltimore, Houston, Nashville, and Stockton.
The facilities will be used to seed a new US data center operating platform focused on colocation, high-density deployments, and AI inference infrastructure. I Squared said it has committed up to $1 billion to build the platform through targeted capital investment, customer-led expansion, and additional acquisitions.
