CyrusOne is formerly a REIT, but was purchased this year by investment firms KKR and Global Infrastructure Partners.When the company moved into the drought-stricken Phoenix area, it used a different, albeit more expensive method of cooling.Realizing the water risk in New Mexico, Meta, formerly known as Facebook, ran a pilot program on its Los Lunas data center to reduce relative humidity from 20% to 13%, lowering water consumption.But Meta's overall water consumption is still rising steadily, with one fifth of that water last year coming from areas deemed to have "water stress," according to its website.While companies with their own data centers can do that, so-called co-location data centers that lease to multiple clients are increasingly being bought by private equity firms in search of high-growth real estate."