Newmark Advises On $5B JV Partnership Between Blue Owl, Chirisa Technology Parks And PowerHouse Data Centers To Develop AI/High-Power Computer Data Centers Across The U.S.

Benzinga · Sep 9 23:36

The Partnership is Between Blue Owl, Chirisa Technology Parks and PowerHouse Data Centers

NEW YORK, Sept. 9, 2024 /PRNewswire/ -- Newmark Group, Inc. (NASDAQ:NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces it served as strategic advisor to Blue Owl Capital, Inc., Chirisa Technology Parks and PowerHouse Data Centers in a joint venture ("JV") worth up to $5 billion to develop large-scale AI/ HPC data centers across the U.S. Newmark's Co-President of Global Debt & Structured Finance Jordan Roeschlaub and Brent Mayo, who leads Newmark's Data Center & Digital Infrastructure Capital Markets team, acted as strategic advisor for the JV.

As the first stage of the partnership, the JV will provide capital to develop turnkey AI/HPC data center assets. The initial 120 megawatts of capacity under the program will be delivered for CoreWeave in 2025 and 2026 at Chirisa's 350-acre campus near Richmond, Virginia. Further deployments in the pipeline include brownfield and greenfield campuses in New Jersey, Pennsylvania, Texas, Kentucky and Nevada.

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Newmark Advises On $5B JV Partnership Between Blue Owl, Chirisa Technology Parks And PowerHouse Data Centers To Develop AI/High-Power Computer Data Centers Across The U.S.

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