$100M AI Campus wins industry PACESetter Award

During this year’s PACENation Summit in New York, SVP of Originations Robbie Pinkas was called to the stage as his transaction Patmos AI Campus won the PACESetter Award for Innovative Deals over $50 million. This is the fifth consecutive year that PLG has been recognized with PACENation’s annual awards, which are “designed to recognize individuals and teams whose efforts have advanced PACE as a critical public policy tool that strengthens communities.”

Patmos AI Campus is a $100 million adaptive reuse project for the conversion of the former Kansas City Star building to a state-of-the-art AI campus in downtown Kansas City, Missouri. When the next phase of infrastructure upgrades is complete this spring, the 421,112-square-foot, four-story Patmos AI Campus will feature 35 megawatts of power for high-density GPU, HPC, and AI infrastructure companies. Located at 1601 McGee Street in downtown Kansas City, the five-acre campus is part of a significant retrofit project.

This project was selected for several reasons, (1) it’s an adaptive reuse project, which are less wasteful as they repurpose buildings instead of demolishing and constructing a new project, (2) it has major energy efficiency components, which are expected to generate over $9 million in annual savings, and (3) the developer Patmos will convert nearly 150,000 square feet of the building into a multi-tenant technology hub, co-working, and event space, advancing its commitment to be the most people-centric AI infrastructure company on the planet and benefit the surrounding community in Kansas City.

This loan is currently the largest C-PACE loan in Missouri, and demonstrates the potential of using C-PACE for data centers since efficiency has such a big impact on their bottom line.