Lake Street is pleased to announce that it served as sole placement agent for a privately held, newly formed acquisition entity of Hunt Properties, Inc. in its private placement offering of $65 million. The net proceeds from the private placement will be supplemental to the ~$230 million acquisition of a strategically located Midwest facility to be converted into a state-of-the-art AI data center.

The facility has operated as a power-intensive industrial facility for the past three years and includes an owned substation and associated infrastructure for the approximately 150 MW of currently available capacity under an existing power agreement with the local utility. A recent load study confirmed the facility's ability to almost double the available power to approximately 300 MW ready for AI workloads.

An affiliate of Hunt Properties, who is the managing member of the private entity, has executed a non-binding LOI to finalize a triple net lease that could potentially produce $1B in payments with a leading provider of compute, in turn servicing a global leader in AI computing hardware, providing exceptional credit quality and long-duration cashflow visibility.

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