Ascent Secures Loan for Northlake Data Center Expansion

CHICAGO-Developer Ascent Corp. has secured a loan worth $107 million to fund a data center expansion in Northlake and to make entry into new markets.

By GlobeSt News Hub | April 19, 2012 at 01:01 AM

CHICAGO-Developer Ascent Corp. has secured a loan worth $107 million to fund a data center expansion in Northlake and to make entry into new markets. A consortium led by Bank of America Merrill Lynch offered the loan to the developer based in St. Louis. Ascent purchased the industrial property measuring 250,000 square feet at 505 N. Railroad Avenue in 2010 for $11.5 million.

The consortium also consists of Cole Taylor Bank and Royal Bank of Scotland. For the full story, go to Crain's Chicago Business .

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