(Bloomberg) -- Vantage Data Centers is considering offloading its assets in Hong Kong in a sale that could fetch as much as $500 million, according to people familiar with the matter, as it looks to expand in other markets.

The Denver, Colorado-headquartered company is working with a financial adviser and has reached out to prospective investors to gauge interest, the people said, asking not to be identified as the process is private. A deal could value the Hong Kong data centers at $300 million to $500 million, they said.

Vantage has facilities in three parts of Hong Kong — Fo Tan, Kwai Chung and On Lok — and an office in Kowloon that it opened in 2022. Backed by Boca Raton, Florida-based alternative asset manager DigitalBridge Group Inc., the company operates data centers, or campuses, for so-called hyperscalers, cloud providers, artificial intelligence and other technology firms, according to its website. Its Asia-Pacific headquarters are in Singapore, and it has 34 campuses globally.

Deliberations are ongoing and Vantage could decide to keep the assets, the people said. A representative for Vantage declined to comment. 

The Hong Kong data center assets were acquired from local telecommunications provider PCCW Ltd. as part of a deal valued at $750 million in July 2021.

In January this year, Vantage announced a $6.4 billion equity investment led by DigitalBridge and Silver Lake Management, on top of €1.5 billion ($1.6 billion) from AustralianSuper for its Europe, Middle East and Africa operations. 

The company secured a $64 million loan from CTBC Bank Co. and Cathay United Bank Co. in March to help it develop its first data center in Taipei, Taiwan, while it also plans to open a second Zurich campus. On Tuesday, Vantage said it secured a $3 billion green loan for its North America business from a syndicate that includes Wells Fargo Securities.

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