Hunt Properties provided an update on its joint Midwest AI data center investment partnership with Empery Digital, saying the project’s 15-year triple-net lease is progressing toward execution in the near term.
The property consists of a 150-megawatt data center facility with an owned substation.
Hunt Properties said the site could also increase capacity to about 300 megawatts.
The company continues to support the project because it sees constrained grid power availability, strong demand for compute infrastructure, and the property’s location.
Hunt Properties said it continues to pursue what it views as the best possible lease terms for the partnership and the project’s long-term success.
The planned lease would represent a long-duration commitment tied to a large-scale AI infrastructure asset in the Midwest.
The project is structured as a triple net lease, under which the tenant generally pays certain property-related expenses in addition to base rent.
The company’s update also addressed its relationship with Empery Digital and its support for the current leadership team.
Hunt Properties reiterated that it voted its shares in favor of Empery Digital’s proposed slate of nine board nominees.
The company said it believes continuity at the board and management level is important to executing the partners’ shared AI infrastructure strategy.
Hunt Properties has been active in commercial real estate development and investment for decades.
The company traces its origins to 1975, when it was formed to provide real estate management and advisory services for the holdings of the H.L. Hunt family.
Beginning in 1986, Hunt Properties expanded its model to include partnerships with third-party institutional investors.
Since 1987, the company has strategically planned, developed, and managed more than $2.5 billion of real estate asset portfolios across multiple property types.
KEY QUOTE:
“We believe that the future success of our partnership relies heavily on Empery Digital’s current board and management team and the continued ability to execute upon our shared vision for AI infrastructure. We remain dedicated to working with the existing board and that is why we voted our shares to elect the company’s proposed nine nominees.”
Al Allred, Chairman of Hunt Properties
