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Washington DC & Mid-Atlantic  + Virginia  + Industrial  |  December 13, 2024
Data Center
Jasmine Kilman
By: Jasmine Kilman

Newmark Arranges $600M in Financing for NoVA Data Center

Newmark Group, Inc. has arranged a $600 million loan to capitalize a 50-megawatt build-to-suit data center development by Blue Owl Real Estate, Chirisa and PowerHouse Data Centers in Northern Virginia.

The financing was arranged by Newmark’s Co-Presidents of Global Debt & Structured Finance Jordan Roeschlaub and Jonathan Firestone, along with Clint Frease, Nick Scribani, Ben Kroll and John Caraviello in collaboration with Brent Mayo, Head of Newmark’s Data Center Capital Markets. The loan was provided by a syndicate led by Societe Generale.

“This transaction reflects the continued appetite for innovative, large-scale digital infrastructure solutions in key markets,” said Roeschlaub. “This project underscores the critical role of Northern Virginia in supporting the growth of AI and hyperscale cloud applications due to its advanced facilities, robust connectivity and strategic location.” The development broke ground earlier this year and is expected to deliver initial capacity in 2025.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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