Newmark Group arranged a $7.1 billion construction loan for Blue Owl Capital, Crusoe and Primary Digital Infrastructure. The loan, provided by a consortium led by J.P. Morgan, will fund the second phase of a $15 billion joint venture to fund a 1.2-gigawatt AI data center in Abilene, Texas. 

Under the terms of the joint venture, Crusoe, in combination with funds managed by Blue Owl’s Real Assets platform, along with Primary Digital Infrastructure, will jointly sponsor the construction of six new buildings, which will bring the center to eight buildings upon completion. Construction of the first phase, comprising two buildings and 200+ megawatts, began in June 2024 and is expected to be energized in the first half of 2025. Construction of the second phase, consisting of the six additional buildings and a total of 1.2 gigawatts, began in March 2025 and is expected to be energized in mid-2026, setting a new bar for the speed of delivery for greenfield, hyperscale digital infrastructure projects. 

Newmark’s Jordan Roeschlaub and Ben Kroll arranged the funding, collaborating with Brent Mayo, Doug Harmon and Andrew Warin.