In a move signaling its aggressive push into the digital infrastructure domain, Australian investment firm HMC Capital is turning a long-vacant site in Los Angeles, California, into a state-of-the-art data center. The site, located at 1977 Saturn Street in Monterey Park, spans 15.8 acres and currently features structures that have been empty since 2016. These will be demolished to make way for a 218,400 square-foot single-story data center along with an on-site substation. With the inclusion of 14 4MW emergency diesel engines, the facility is expected to boast a total capacity of 56MW, signaling a major addition to HMC Capital’s growing digital infrastructure portfolio. The project, aptly named the 1977 Saturn Data Center Project, is anticipated to commence construction in the near future, targeting an opening date in August 2027.
Strategic Expansion into North America
HMC Capital’s foray into the North American data center market follows several strategic acquisitions that underscore its commitment to expanding its footprint in the digital infrastructure sector. Following the purchase of the Monterey Park site for $39 million from EQ Office in late 2024, HMC also acquired the adjacent property at 1980 Saturn Street for $33.5 million. These acquisitions are part of a broader strategy that included the purchase of North American digital infrastructure investor StratCap in February 2024, as well as the acquisition of Global Switch’s Australian unit and the local operator iseek. All these acquisitions have been integrated into HMC’s DigiCo Infrastructure Real Estate Investment Trust (REIT), a consolidated entity now managing 13 data centers serving 586 customers globally. The REIT further expanded by agreeing to acquire three North American enterprise and hyperscale data centers for AU$2.29 billion, demonstrating HMC’s commitment to becoming a significant player in the global digital infrastructure landscape. Historically, the Monterey Park site has hosted financial institutions such as Lloyds Bank, Sanwa Bank, and FIS, making its transformation into a data center a notable shift in its utilization. At one point, the site was even considered for an organ donation facility, highlighting its versatile potential before HMC’s acquisition. HMC Capital’s planned data center in Monterey Park exemplifies its strategy of repurposing underutilized spaces into cutting-edge digital infrastructure facilities, thereby addressing the increasing global demand for data storage and processing capabilities. The transformation of this long-vacant site into a high-capacity data center underscores HMC’s ability to identify and act upon valuable investment opportunities within the digital infrastructure sector. With a clear timeline established, the new data center is poised to become a critical asset in HMC’s portfolio and a key component of Los Angeles’ growing tech ecosystem. HMC’s aggressive expansion through strategic acquisitions and careful repurposing of existing assets has set the stage for its emergence as a formidable entity within the global data center market. By converting the Monterey Park site into a data center, the company is effectively addressing the burgeoning needs for data processing and storage solutions, reflecting its larger vision of digital infrastructure growth. As the new data center progresses towards completion, it represents both a significant milestone for HMC and a substantial addition to the capabilities of the tech industry in Los Angeles.