AI Data Center Leases Stretch to 20 Years as Power Becomes the Asset
Why this matters
Capital markets activity continues to be defined by the rotation from bank balance sheets to non-bank lenders. Private credit funds have raised record dry powder; banks have tightened CRE underwriting standards for the sixth consecutive quarter. The result is a market where well-sponsored deals clear, and marginal credit pays a meaningful spread to do so. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. For LPs, the allocation conversation has shifted decisively toward real estate debt, with equity allocations being deployed more selectively into operator-led platforms.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 333rd New York story tracked on the wire in September 2026. All New York coverage →
- Disclosed capital deal value tracked in September 2026: $22.1B across 47 reported transactions.
Computed from Real Estate Trail’s own tracked coverage
NEW YORK, Sept. 30, 2026 /PRNewswire/ -- American News Group News Commentary - The global AI data center market is projected to grow from USD 471.59 billion in 2026 to USD 2,023.52 billion by 2032, a compound annual g…
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