National Data Center Fund

Opportunity to take part in the largest growth story since the internet

National Data Center Fund, LLC (“NDCF”) is invested in a portfolio of operating data centers, land holdings, and developments through its majority equity ownership of Sabey Data Centers (“SDC”), a privately held, vertically-integrated U.S. data center company with an exclusive partnership with National

Fund Highlights

  • Modern, mission-critical portfolio
  • Premier data center operator with award-winning reputation for reliability due to experienced, vertically-integrated team
  • Outstanding track record of building, leasing, and operating assets
  • 80% of rent from Investment Grade tenants
  • Conservative leverage and industry-leading ABS rating
  • Deep focus on sustainability, with low cost, carbon-free energy
  • Significant demand from AI and the cloud

Operating Campuses

Square Foot Operating Portfolio

Land Poised for Hyperscale Development

Average Age of the Portfolio’s Modern Data Halls

123.3 MW Built with 267.1 MW Held or Under Construction

As of 12/31/2023


  1. Any projections included herein are estimates based on forecasted operations of the fund, and no assurances can be given that actual results will be the same as any projections, nor can any market conditions be predicted or guaranteed.
  2. As of December 31, 2023. Please see Fund Materials, available upon request, for additional disclosures on calculation of NAV and TEV.
  3. Target returns reflect aspirational performance goals. They are estimated, hypothetical returns that do not reflect the actual returns achieved by NDCF and cannot be guaranteed. To obtain a detailed summary of NDCF’s return projections and for a detailed list of important disclosures on forward-looking statements, please contact the Investor Relations contacts listed above.
  4. National employees receive a management fee waiver but are still subject to the incentive fee and all other terms.
  5. Distributions are not guaranteed.


  1. This is not an offering or the solicitation of an offer to purchase an interest in NDCF. Any such offer or solicitation will be made to qualified investors only by means of a final offering memorandum and only in those jurisdictions where permitted by law.
  2. National is a registered investment adviser with the United States Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply any level of skill or training. The SEC does not endorse, indemnify, or guarantee National’s business practice, selling methods, the class or types of securities offered, or any specific security.

Industry-Leading Sustainability

  • Cost of power as low as 3.9¢ per kWh, with the portfolio average cost 26% lower than the national industry average
  • Consistently ranks at the very highest levels for building certifications by meeting strict EPA energy performance standards
  • Submits comprehensive annual reports through GRESB and is an active member of the Clean Energy Buyers Alliance
  • Committed to achieving net-zero carbon emissions by 2029 for Scope 1 and Scope 2 emissions

SDC Seattle East

Tukwila, Washington

  • 5 Operating Buildings
  • 968,645 Square Feet
  • 6 MW of new Tier 3 capacity delivered in Building 3

SDC Seattle West

Tukwila, Washington

  • 3 Operating Buildings
  • 236,867 Square Feet
  • No new development

SDC Columbia

East Wenatchee, Washington

  • 3 Operating Buildings
  • 522,017 Square Feet
  • 7.2 MW being built, Excess land could hold up to five buildings and 48-72 MW

SDC Quincy

Quincy, Washington

  • 5 Operating Buildings
  • 506,674 Square Feet
  • Buildings D and E under construction, combined max capacity of ~80 MW & 673,570 RSF

SDC Ashburn

Ashburn, Virginia

  • 2 Operating Buildings
  • 398,004 Square Feet
  • Buildout of 12 MW in Bldg. B, Bldg. A in predevelopment with max capacity of 36 MW

SDC Manhattan

New York City, New York

  • 1 Operating Building
  • 281,753 Square Feet
  • 2 MW of turnkey space on 7th floor to-be-built based on leasing activity

SDC North Texas

Oklaunion, Texas

  • 645 acres of land uniquely positioned near existing renewable energy and fiber

SDC Austin

Round Rock, TX

  • Under Construction
  • Two-building campus with a maximum potential power capacity of 72 MW situated on 42 acres

SDC Umatilla

Umatilla, Oregon

  • 61.25 Acres
  • 50 MW estimated maximum power available

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