Cyxtera Rejected 5 Leases so far But Didn’t reject any leases with DCRU as of 25th August
Cyxtera operates more than 60 data centres totaling 245MW across 29 markets globally; the majority of its portfolio is leased from Data centre landlords like DCRU.
Since its bankruptcy filing on 4th June 2023, Cyxtera has reportedly rejected five leases with four different landlords:
- one lease at Amsterdam with CyrusOne (6% occupancy, 3MW);
- one lease at Moses Lake Washington with ServerFarm (0% occupancy, 22MW)
- one lease at Chicago with STACK (unknown occupancy, 3.5MW)
- two leases at Santa Clara California with Prime DC (one @ 0% occupancy another still under development, total 18MW)
Cyxtera currently has 6 leases with DCRU and mostly with occupancy between 57%, 70%, 95%, all of which are currently under-rented at below market rental.
As of 25th August 2023, Cyxtera has not rejected any lease with DCRU. Under US bankruptcy law, It has rights to reject leases up to 60(+60) days (before 1 Dec 2023).
Cyxtera has signed 37 NDA with potential buyers and received six bids to acquire Cyxtera as a whole. Final bid results will be announced by the court on 22 September 2023.
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