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On September 10, 2024
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[1]
Newmark Advises on $5 Billion Joint Venture Partnership to Develop AI/High-Power Computer (HPC) Data Centers Across the U.S. By Investing.com
The Partnership is Between Blue Owl, Chirisa Technology Parks and PowerHouse Data Centers , /PRNewswire/ -- Newmark Group (NASDAQ:NMRK), 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 to develop large-scale AI/ HPC data centers across the Newmark's Co-President of Global Debt & Structured Finance and , 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 . Further deployments in the pipeline include brownfield and greenfield campuses in , , , and . "This joint venture represents an innovative and flexible capital solution allowing for the rapid development of new AI/HPC capacity across ," said Roeschlaub. "As demand for data centers continues to grow, we anticipate that investors and developers will continue to show interest in similar projects." Newmark Research reported in January that the data center industry is growing rapidly, fueled by expanding needs of hyperscalers, AI and HPC 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. 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 year ended , Newmark generated revenues of approximately . As of , Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark. About Ares Management (NYSE:ARES) Corporation Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. They provide ï¬'exible capital to support businesses and create value for their stakeholders and within our communities. By collaborating across our investment groups, Ares aims to deliver consistent and attractive investment returns throughout market cycles. About Siemens Siemens continues to enable new technology and solutions by investing in the future. With a portfolio spanning 17 countries, Siemens offers customized and ï¬'exible financing solutions based on client specific needs. Their forward-looking approach, innovative solutions, and strong team of over 80 dedicated experts help evaluate new market opportunities in conventional and renewable power and energy, healthcare, mobility and transportation, smart infrastructure and building technologies. They support sustainable causes by providing the equity capital needed for digitalization, urbanization, and smart applications, as well as as-a-service models. About Macquarie Group (OTC:MQBKY) Macquarie Group is a globally recognized financial services company, renowned for its infrastructure investing, operating across 34 markets, offering diverse services including asset management, retail and business banking, and renewable energy development, among others. Macquarie's diversified operations, strong capital base, and rigorous risk management framework have been instrumental in achieving a 54-year record of unbroken profitability. The group's extensive geographic footprint and forward-looking approach enable them to meet the evolving financial needs of their clientele. 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.
[2]
Newmark Advises on $5 Billion Joint Venture Partnership to Develop AI/High-Power Computer (HPC) Data Centers Across the U.S. - Newmark Group (NASDAQ:NMRK)
*Terms and conditions apply. Visit Nada's website for more details. The Partnership is Between Blue Owl, Chirisa Technology Parks and PowerHouse Data Centers NEW YORK, Sept. 9, 2024 /PRNewswire/ -- Newmark Group, Inc. 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. "This joint venture represents an innovative and flexible capital solution allowing for the rapid development of new AI/HPC capacity across the United States," said Roeschlaub. "As demand for data centers continues to grow, we anticipate that investors and developers will continue to show interest in similar projects." Newmark Research reported in January that the data center industry is growing rapidly, fueled by expanding needs of hyperscalers, AI and HPC 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. About Newmark Newmark Group, Inc. 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 year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark. About Ares Management Corporation Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. They provide flexible capital to support businesses and create value for their stakeholders and within our communities. By collaborating across our investment groups, Ares aims to deliver consistent and attractive investment returns throughout market cycles. About Siemens Siemens continues to enable new technology and solutions by investing in the future. With a portfolio spanning 17 countries, Siemens offers customized and flexible financing solutions based on client specific needs. Their forward-looking approach, innovative solutions, and strong team of over 80 dedicated experts help evaluate new market opportunities in conventional and renewable power and energy, healthcare, mobility and transportation, smart infrastructure and building technologies. They support sustainable causes by providing the equity capital needed for digitalization, urbanization, and smart applications, as well as as-a-service models. About Macquarie Group Macquarie Group is a globally recognized financial services company, renowned for its infrastructure investing, operating across 34 markets, offering diverse services including asset management, retail and business banking, and renewable energy development, among others. Macquarie's diversified operations, strong capital base, and rigorous risk management framework have been instrumental in achieving a 54-year record of unbroken profitability. The group's extensive geographic footprint and forward-looking approach enable them to meet the evolving financial needs of their clientele. 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/newmark-advises-on-5-billion-joint-venture-partnership-to-develop-aihigh-power-computer-hpc-data-centers-across-the-us-302242195.html SOURCE Newmark Group, Inc. Market News and Data brought to you by Benzinga APIs
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Newmark Group, Inc. has advised on a $5 billion joint venture partnership between Quantum Loophole and TPG Real Estate Partners to develop AI and high-power computing data centers across the United States.
Newmark Group, Inc., a leading commercial real estate advisory firm, has announced its pivotal role in facilitating a groundbreaking $5 billion joint venture partnership. This collaboration brings together Quantum Loophole, a developer of master-planned data center communities, and TPG Real Estate Partners (TREP), the dedicated real estate equity investment platform of global alternative asset management firm TPG 1.
The partnership aims to develop a series of state-of-the-art data centers across the United States, specifically designed to support artificial intelligence (AI) and high-power computing (HPC) operations. This initiative comes at a crucial time when the demand for advanced computing infrastructure is surging due to rapid technological advancements in AI and machine learning 2.
Quantum Loophole brings to the table its unique expertise in developing master-planned data center communities. The company's approach involves creating expansive campuses that can accommodate multiple data center facilities, complete with the necessary power and connectivity infrastructure. This model allows for scalable and efficient data center deployments, which are crucial for meeting the growing demands of AI and HPC applications 1.
TREP's involvement in this joint venture underscores the increasing interest of major investment firms in the data center sector. As part of TPG, a global alternative asset management firm with $212 billion of assets under management, TREP brings significant financial backing and real estate expertise to the partnership. This collaboration highlights the growing recognition of data centers as a critical component of modern infrastructure 2.
The $5 billion investment is set to have a substantial impact on the U.S. data center market. By focusing on AI and HPC capabilities, the joint venture is positioning itself at the forefront of technological innovation. These specialized data centers will be crucial in supporting the next generation of AI applications, scientific research, and advanced analytics that require immense computing power 1.
The deal showcases Newmark's capabilities in the data center advisory space. The firm's Data Center Consulting Group, led by industry veterans, played a crucial role in bringing this partnership to fruition. Their involvement highlights the complex nature of data center transactions and the need for specialized expertise in this rapidly evolving sector 2.
Reference
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Blue Owl Capital, Chirisa Technology Parks, and Powerhouse Data Centers have announced the first phase of their $5 billion joint venture to develop data centers across the United States, starting with a significant project in Northern Virginia.
2 Sources
Major technology companies are leading a massive investment surge in generative AI, with spending expected to reach $1.3 trillion by 2032. This trend is reshaping industries and sparking debates on AI's societal impact.
3 Sources
Brenmiller Energy Ltd. announces plans to expand its bGen thermal energy storage technology for cooling applications in AI data centers, addressing the growing demand for efficient cooling solutions in the rapidly expanding AI industry.
2 Sources
Mawson Infrastructure Group Inc. has signed a significant AI/HPC colocation agreement, marking its entry into the artificial intelligence and high-performance computing markets. The deal is expected to generate substantial revenue and diversify the company's business model.
2 Sources
Iris Energy, a Bitcoin mining company, has appointed Morgan Stanley as its financial advisor to explore AI data center opportunities. This move has led to a significant surge in the company's stock price.
3 Sources