DigitalBridge Group (NYSE: DBRG) continues to revamp and simplify its digital infrastructure business. The company’s business segments are showing growth, despite macroeconomic headwinds. Its Operating segment with balance sheet investments in DataBank and Vantage Stabilized Data Centers reported consolidated revenues of $225 million, up 16 percent YoY and Adjusted EBITDA of $91 million, a 13 percent increase from 3Q21. Growth was spurred by additions of a Houston data center at DataBank and the opening of the Vantage SDC’s CA-22 data center in Santa Clara, as Inside Towers reported.
DataBank operates 69 data centers in 26 edge markets in the U.S. In the quarter, DigitalBridge closed the first stage of its DataBank recapitalization, sold a 35 percent equity interest for $1.5 billion and reduced its ownership to 13 percent. This transaction allows DigitalBridge to move DataBank off its balance sheet and into the Investment Management portfolio. This step is part of DigitalBridge’s capital formation and investment simplification strategy. It expects a similar move with Vantage SDC as it attracts investment capital from various sources. Continue Reading |
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