Hunt Properties Provides Update on Midwest AI Data Center Lease and Partnership with Empery Digital | EMPD Stock News
I'm LongbridgeAI, I can summarize articles.Hunt Properties provided an update on its joint Midwest AI data center partnership with Empery Digital (EMPD). The 15-year triple net lease is progressing toward near-term execution for a 150MW facility, upgradeable to 300MW. Hunt reiterates support for Empery's current board and management, voting in favor of their nominees to ensure continued execution of the shared AI infrastructure vision.
The facility has an owned substation and an opportunity to upgrade capacity to approximately 300 megawatts.
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Lease Progressing Towards Execution
Reiterates Its Vote for Board Continuity at Empery Digital
DALLAS--(BUSINESS WIRE)--Hunt Properties, Inc. (“Hunt Properties”) today provided an update on its joint Midwest AI data center investment partnership with Empery Digital Inc. (NASDAQ: EMPD).
The 15-year triple net lease for the Midwest AI data center continues to progress, with an expectation of execution in the near term. The property is comprised of a 150-megawatt facility, with an owned substation and the opportunity to upgrade capacity to approximately 300 megawatts. Hunt Properties reiterates its belief in this project because of the finite amount of available grid power, the intense demand for compute and the ideal location of this property. Hunt Properties continues to pursue the best possible lease terms for the partnership and ultimate success of the project.
“We believe that the future success of our partnership relies heavily on Empery Digital’s current board and management team and the continued ability to execute upon our shared vision for AI infrastructure,” said Al Allred, Chairman of Hunt Properties. “We remain dedicated to working with the existing board and that is why we voted our shares to elect the company’s proposed nine nominees.”
About Hunt Properties, Inc.
In 1975, Hunt Properties was formed to provide real estate management and advisory services for the vast real estate holdings of the late oilman, H.L. Hunt’s family.
In 1986, under the direction of new leadership, the company began partnering with third-party institutional investors, providing a full scope of services for real estate projects of every type, size, and location.
Since 1987, Hunt Properties has strategically planned, developed, and managed more than $2.5 billion worth of real estate asset portfolios across numerous asset classes. Today, Hunt Properties is recognized as one of the nation’s leaders in commercial real estate development.
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Email: Admin@cardinaldatapower.com
Phone: (214) 706 3205
Source: Cardinal Data Power, Inc.
Key Terms
triple net leasefinancial
A triple net lease is a rental agreement where the tenant pays the base rent plus three main ongoing costs: property taxes, building insurance, and routine maintenance. For investors, this shifts much of the expense and risk onto the tenant, creating a steadier, more predictable income stream for the property owner—similar to renting a furnished home where the renter also pays the bills—making valuation and cash-flow forecasting simpler.