A cooling apparatus and method are provided for cooling an electronics rack. The cooling apparatus includes an air-cooled cooling station, which has a liquid-to-air heat exchanger and ducting for directing a cooling airflow across the heat exchanger. A cooling subsystem is associated with the electronics rack, and includes a liquid-cooled condenser facilitating immersion-cooling of electronic components of the electronics rack, a liquid-cooled structure providing conductive cooling to electronic components of the electronics rack, or an air-to-liquid heat exchanger associated with the rack and cooling airflow passing through the electronics rack. A coolant loop couples the cooling subsystem to the liquid-to-air heat exchanger. In operation, heat is transferred via circulating coolant from the electronics rack, and rejected in the liquid-to-air heat exchanger of the cooling station to the cooling airflow passing across the liquid-to-air heat exchanger. In one embodiment, the cooling airflow is outdoor air.