Anonymous Seller Auctions $500 Million Data Center Loan Portfolio

An anonymous seller has launched a bids-wanted-in-competition auction for a portfolio of data center loans valued at approximately $500 million. The portfolio consists of a dozen loans, including a $25 million slice that backs a data center site in New Mexico.

This specific site is part of the Stargate project, a joint venture between OpenAI, SoftBank Group Corp., and Oracle Corp. The sale occurs amid broader market uncertainty following a Democratic sweep of the U.S. midterm elections, which has raised questions about the future of several large-scale infrastructure projects.

Adding to the instability of the New Mexico site, Oracle Corp. previously issued a notice citing force majeure to the project's developer.