NEW
YORK, Dec. 13, 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 the firm 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.
"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. It also highlights the resilience of the data center
sector as a cornerstone of today's global economy."
Leased to leading hyperscale graphics processing unit provider
CoreWeave, the project is located within the 300+ acre Chirisa
Technology Park in Richmond,
offering supplemental mission critical capacity within one of its
most customer-dense regions in the US. In addition to increasing
CoreWeave's stronghold in this market, the development will also
provide state-of-the-art fit-outs and access to highly redundant
fiber networks, allowing it to serve customers throughout the east
coast. The development broke ground earlier this year and is
expected to deliver initial capacity in 2025.
Newmark Research reported in January that the data center
industry is growing rapidly, fueled by expanding needs of
hyperscalers, AI and high-performance computing users and large
enterprises. The increased demand has spurred a surge in new
development and land banking for future development, with data
center construction pipelines hitting new all-time highs in
2024.
The loan was provided by a syndicate led by Societe
Generale.
About Blue Owl Real Estate
Blue Owl Real Estate is a leading real estate private equity
platform with $27bn of AUM. The
real estate platform offers flexible and bespoke capital solutions
to investment-grade and creditworthy tenants. Blue Owl Real Estate
specializes in structured sale-leaseback transactions with long
lease terms. With expertise in both direct and indirect real estate
investing, a proprietary origination platform, and enhanced lease
structures, Blue Owl Real Estate provides flexible real estate
solutions to a range of organizations across asset classes and
geographies
About Chirisa
Chirisa is a global investor active across Digital Infrastructure
and Real Estate in the Americas and Europe. The firm's exceptional track record of
value creation is driven by a multidisciplinary approach, combining
deep operating expertise with extensive private investment and
financing experience. The firm seeks situations where their
capital, expertise, and operational support help create substantial
and sustainable value. Investing as a principal, they have a
flexible and long-term approach to value creation.
About PowerHouse
PowerHouse Data Centers, fully owned and operated by American Real
Estate Partners (AREP), is a leading provider of state-of-the-art
data center solutions, offering secure and scalable
infrastructure tailored to meet the needs of hyperscale end users.
From site selection and acquisition through design, build and
operations, PowerHouse offers turnkey solutions developed by proven
real estate leadership and seasoned in-house construction
management and the best technical expertise from their design teams
and contractor partners.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries
("Newmark"), is a world leader in commercial real estate,
seamlessly powering every phase of the property life cycle.
Newmark's comprehensive suite of services and products is uniquely
tailored to each client, from owners to occupiers, investors to
founders, and startups to blue-chip companies. Combining the
platform's global reach with market intelligence in both
established and emerging property markets, Newmark provides
superior service to clients across the industry spectrum. For
the twelve months ended September 30,
2024, Newmark generated revenues of approximately
$2.6 billion. As of that same date,
Newmark's company-owned offices, together with its business
partners, operated from nearly 170 offices with more than 7,800
professionals around the world. To learn more,
visit nmrk.com or follow @newmark.
Discussion of Forward-Looking Statements about
Newmark
Statements in this document regarding Newmark that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements. These
include statements about the Company's business, results, financial
position, liquidity, and outlook, which may constitute
forward-looking statements and are subject to the risk that the
actual impact may differ, possibly materially, from what is
currently expected. Except as required by law, Newmark undertakes
no obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see Newmark's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
and Special Note on Forward-Looking Information set forth in these
filings and any updates to such risk factors and Special Note on
Forward-Looking Information contained in subsequent reports on Form
10-K, Form 10-Q or Form 8-K.
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SOURCE Newmark Group, Inc.
