NEW YORK,
Oct. 17,
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 it served as strategic advisor to Blue Owl Capital, Inc.
("Blue Owl"), Primary Digital Infrastructure and Crusoe Energy
Systems LLC ("Crusoe") in a $3.4
billion joint venture ("JV") to fund a purpose-built data
center at the Lancium Clean Campus in Abilene, Texas. Newmark's Co-President of
Global Debt & Structured Finance Jordan
Roeschlaub, Head of Data Center Capital
Markets Brent
Mayo, Co-Head of Strategic Advisory Andrew Warin and Director of Strategic
Advisory Chase Tagen acted as
the advisors for the JV.
Crusoe will design, build and operate the new 206 megawatt
("MW"), 998,000-square-foot data center. The property will be a
build-to-suit, two-building development constructed to
industry-leading efficiency and reliability standards, and capable
of supporting high energy density IT applications. The project is
100% long-term leased to a Fortune 100 hyperscale tenant with
occupancy expected to begin in 1H 2025. Supported by Blue Owl's
investment and developed by Crusoe, the project will incorporate an
innovative DC design, sharpened to support cutting-edge artificial
intelligence ("AI") workloads at an industry-leading scale. The
design will be optimized for direct-to-chip liquid cooling and will
also accommodate air cooling. At completion, the data center will
be able to operate up to 100,000 GPUs on a single integrated
network fabric, advancing the frontier of data center design and
scale for AI training and inference workloads.
"Crusoe's leadership team has positioned the Lancium Clean
Campus to capitalize on unprecedented growth from high energy
density IT applications, and the JV with Blue Owl and Primary
Infrastructure only further supports those efforts," said Mayo. "We
look forward to continuing to support the JV and are excited to
have served as the exclusive advisor in this transaction."
The 200+ MW capacity will be delivered in 2025 on a
substantially accelerated construction timeline. This speed is
achieved through Crusoe's innovative design strategies and intimate
familiarity with the GPUs and other integral AI hardware that will
outfit the site.
The project is expected to contribute nearly $1 billion to the local economy over the next 20
years, as estimated by the Development Corporation of Abilene1, and will focus on local
hiring, creating almost a hundred local jobs. Combined with its
limited environmental impact due to the proposed use of renewable
energy, this project reflects Crusoe's commitment to lead the
industry in sustainability and community stewardship.
Newmark Research reported in January that the data center
industry is growing rapidly, fueled by expanding needs of
hyperscalers, AI and other high-performance computing users, as
well as 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 Crusoe Energy Systems LLC
Crusoe
is on a mission to align the future of computing with the future of
the climate. As builders and operators of clean computing
infrastructure, Crusoe reduces both the costs and the environmental
impact of the world's expanding digital economy. By utilizing clean
sources of energy to power artificial intelligence,
crypto, and other high-performance computing
applications, Crusoe is creating a future of sustainable
innovation.
To learn more, visit https://crusoe.ai/ and follow
Crusoe on Linkedin and X.
About Blue Owl Capital Inc
Blue Owl
(NYSE: OWL) is a leading asset manager that is redefining
alternatives.
With over $192 billion in assets
under management as of June 30, 2024,
we invest across three multi-strategy platforms: Credit, GP
Strategic Capital, and Real Estate. Anchored by a strong permanent
capital base, we provide businesses with private capital solutions
to drive long-term growth and offer institutional investors,
individual investors, and insurance companies differentiated
alternative investment opportunities that aim to deliver strong
performance, risk-adjusted returns, and capital preservation.
Together with over 820 experienced professionals, Blue Owl
brings the vision and discipline to create the exceptional. To
learn more, visit www.blueowl.com.
About Primary Digital
Infrastructure
Primary Digital Infrastructure provides
flexible, repeatable financing solutions that allow data center
operators to unlock precious liquidity from existing assets and
achieve their development objectives. Primary Digital
Infrastructure's mission is to 'risk match' this incremental
capital by purchasing the best stabilized assets from developers
and operators to allow them to recycle capital and finance their
pipelines. Primary Digital Infrastructure is dedicated to an
operator-centric model that allows the best data center developers
and owners to recycle capital with as little friction as possible.
Established by industry leaders Bill
Stein, David Ferdman,
Peter Hopper, and John Sheputis, Primary Digital Infrastructure
provides capital to premier data center owners and operators
through a range of financial solutions including recapitalizations,
outright purchases, and forward takeouts. To learn more,
visit https://primaryinfra.com/.
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 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.
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.
1
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