Newmark Arranges $2.3 Billion Construction Financing for 206 MW Build-to-Suit Data Center

Project Overview - Newmark arranged a $2.3 billion loan for a 206 MW Build-to-Suit data center development in Abilene, Texas, on behalf of Blue Owl Capital, Crusoe Energy Systems, and Primary Digital Infrastructure [1] - The project is leased to a leading technology company and will feature state-of-the-art fit-outs, with 300 MW of on-site self-generation capacity [2] - The development broke ground in 2024 and is expected to deliver initial capacity in early 2025 [2] Industry Trends - The data center industry is experiencing rapid growth, driven by the expanding needs of hyperscalers, AI and HPC users, and large enterprises [3] - Increased demand has led to a surge in new developments and land banking, with data center construction pipelines reaching all-time highs in the previous year [3] Key Players - Blue Owl Capital manages $235 billion in assets as of September 30, 2024, and operates across Credit, GP Strategic Capital, and Real Estate platforms [4] - Crusoe Energy Systems focuses on sustainable AI infrastructure, reducing costs and environmental impact in the digital economy [5] - Primary Digital Infrastructure is led by industry veterans with over 60 years of executive leadership experience in the data center sector [6] Newmark's Role - Newmark is a global leader in commercial real estate, generating approximately $2.6 billion in revenues for the twelve months ended September 30, 2024 [7] - The company operates from nearly 170 offices worldwide, with over 7,800 professionals providing tailored services across the property life cycle [7]