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SAVRN Research · Capital Atlas · REIT and developer

CyrusOne Data Center Capex and Sites

CyrusOne was acquired by KKR and Global Infrastructure Partners for $15B in 2021. Its 2025-1 ABS raised $575M against 13 data centers with $4.4B of appraised value, 61.7% concentrated in Northern Virginia. Its $500M+, 600 MW Sangamon County, Illinois campus was deferred by the county board in late 2025 before a conditional permitted use was approved in April 2026, its Aurora, Illinois facility drew resident noise complaints in the record supporting Aurora's moratorium, and it announced a roughly $2B, 1,200-acre US Army data center site in Utah in spring 2026.

Updated October 8, 2026 7 named sites 9 financing transactions 2 sourced facts 31 sources
CyrusOne
REIT and developer
Financing regimeKKR and Global Infrastructure Partners private ownership with ABS securitization financing
Named sites
7
Site-level commitments the atlas ties to CyrusOne
Disclosed site capital
$5.7B
Sum of named sites with a stated dollar figure. Not a capex total; see the spending table
Disclosed capacity
1,070 MW
Sum of named sites with a stated megawatt figure
Financing transactions
9
Transactions naming CyrusOne or tied to one of its sites
Spending

Reported and guided spending

Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent; guidance is what management said it expects. They are shown side by side and never combined.

PeriodKindAmountAs statedSources
2025 raise $575M
2025-1 ABS raised $575M against 13 data centers with $4.4B of appraised value, 61.7% concentrated in Northern Virginia
Named sites

Where CyrusOne builds

Texas
3 sites · $2.3B disclosed
Open the Texas investment tracker →
Utah
1 site · $2.0B disclosed
Open the Utah investment tracker →
North Carolina
1 site · $900M disclosed
Open the North Carolina investment tracker →
Illinois
2 sites · $500M disclosed
Open the Illinois investment tracker →
SiteStatePlaceCapitalMWStatusSources
CyrusOne US Army data center site, Utah
with US Army
 Utah n.a. ~$2.0B n.a. announced
CyrusOne Freestone County campus (Freestone Energy Center)
with Constellation Energy, Calpine
 Texas Fairfield, Freestone County ~$1.5B 380 under construction
PointOne / CyrusOne data center, 4015 Lower Moncure Road (Phase I)
with PointOne, Helix Ventures (developer)
 North Carolina Sanford, Lee County ≥$900M 90 approved
CyrusOne Sangamon County campus (Talkington Township)
deferred late 2025; conditional permitted use approved April 2026
 Illinois Sangamon ≥$500M 600 announced
CyrusOne Castroville data center
Reported 18 July 2026
 Texas Castroville, Medina County ~$500M n.a. under construction
CyrusOne DFW8 (9501 Asphalt Drive)
Registered with TDLR 24 September 2026; reported by The Real Deal 28 September 2026
 Texas Fort Worth, Tarrant County ~$257M n.a. proposed
CyrusOne Aurora facility (Eola and Diehl roads)
 Illinois Aurora n.a. n.a. operating
Financing

Financing transactions

Transactions that name CyrusOne as a party or attach to one of its named sites. Amounts are as stated; overlapping commitments are never summed.

PartiesInstrumentAmountDateSiteSources
KKR + GIP + CyrusOne + Global Infrastructure Partners
KKR and GIP completed the acquisition of CyrusOne when GIP AUM was over $81 billion.
 acquisition ~$15.0B completed March 25, 2022 n.a.
CyrusOne
Post-acquisition debt financing across a platform of over 55 data centers in the US and Europe.
 debt facility ~$9.7B revolving credit facility completed in May n.a.
CyrusOne + KKR + GIP + Kirkland & Ellis (counsel)
Kirkland advised CyrusOne on a $1.25 billion SASB CMBS financing secured by a portfolio of six data centers in North Carolina, Ohio and Texas. Use of proceeds and property MW were not disclosed. This is a separate transaction from record cyrusone-cmbs-1050, which Kirkland announced on 20 May 2026 as a $1.05 billion loan secured by one property near Dallas (the DFW3 and DFW4 buildings in Allen, Texas, per Bisnow)
 cmbs $1.2B Announced 20 July 2026 n.a.
CyrusOne + Calpine
Dedicated-generation agreement anchoring the DFW10 campus adjacent to the Thad Hill Energy Center in Bosque County, Texas.
 ppa $1.2B announced July 30, 2025; expected operational by Q4 2026 CyrusOne DFW10 campus (Thad Hill Energy Center) (TX)
CyrusOne + KKR + GIP
CMBS refinancing for KKR- and GIP-owned CyrusOne secured by its DFW3 and DFW4 data centers on Chelsea Boulevard in Allen, Texas, 76.5 MW combined, appraised at nearly $1.6 billion (66.8% loan to value) per the presale report cited by Bisnow. Separate from the $1.25 billion six-property CMBS in record cyrusone-cmbs-1250-2026
 other $1.1B Announced 20 May 2026 n.a.
CyrusOne
The 2025-1 ABS raised $575M against 13 data centers with $4.4B of appraised value.
 project bond $575M 2025 n.a.
Constellation + CyrusOne
Calpine LLC, a Constellation business unit, signed a 380 MW agreement with CyrusOne on 9 February 2026 to connect and serve a new data center adjacent to the Freestone Energy Center in Freestone County, Texas, and entered an exclusive agreement to provide power, grid connectivity and site infrastructure for a Phase 2 of an additional 380 MW. The agreements are in addition to 400 MW of Calpine-CyrusOne agreements at the Thad Hill Energy Center in Bosque County, Texas.
 ppa n.a. reported February 9, 2026 CyrusOne Freestone County campus (Freestone Energy Center) (TX)
CyrusOne + KKR + Global Infrastructure Partners + Goldman Sachs + Morgan Stanley
KKR and GIP are preparing a possible U.S. IPO of CyrusOne as early as 2027 and have met banks including Goldman Sachs and Morgan Stanley. Plans are at an early stage
 other n.a. Reported by Private Equity Wire 11 August 2026 n.a.
Constellation Energy + CyrusOne
New Data Center Facility at Freestone Energy Center In the first quarter of 2026, we signed a new 380 MW agreement with Dallas-based CyrusOne, a leading global data center developer and operator, to connect and serve a new data center adjacent to the Freestone Energy Center, in Freestone County, Texas.
 other n.a. Filed Aug 6, 2026 n.a.
The record

Sourced facts on CyrusOne

  • Activists meeting at Springfield's Lincoln Library on October 28 called for a six-month moratorium on zoning votes for the Sangamon County proposal, whose stated capacity is 600 MW.
  • CyrusOne's Aurora, Illinois facility at Eola and Diehl roads drew resident noise complaints, including extended backup-generator operation during April repairs, in the record supporting Aurora's moratorium.
Sources

Sources for CyrusOne

Every source cited on this page, once each. The full atlas source register is at Capital Atlas sources.

REIT and developer: one page each

Aligned Data Centers 1Cloverleaf Infrastructure 1Cologix 0Compass Datacenters 3CRG (Clayco) 1CyrusOne 7DataBank 4Digital Realty Trust 8EdgeConneX 0Equinix 2Fermi Inc. (Fermi America) 1Flexential 0H5 Data Centers 2Iron Mountain 3Novva Data Centers 1Prime Data Centers 4QTS Realty Trust (Blackstone) 7Rowan Digital Infrastructure 1Sabey Data Centers 3SB Energy 4STACK Infrastructure 4Tract 6Vantage Data Centers 7

The figure beside each provider is its count of named sites in the atlas.

Part of the North American Data Center Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so this page shows each figure as its source states it and never adds them into a single deployment number. Informational, not investment advice.
The SAVRN reference set

Seven references, one system

Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.

Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
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Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
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Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
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Grid Operator Watchlist
ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.
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Permits and Power Development
Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.
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SAVRN Scarcity Tracker
Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.
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