JLL raises over $1.2b of construction financing in Northern Virginia for data center developer, The BlackChamber Group
JLL Capital Markets has successfully arranged over $1.2 billion in construction financing throughout 2024 for The BlackChamber Group's data center development projects in Northern Virginia. The financing will support the development of four hyperscale powered shell campuses with a combined capacity of over 740 megawatts.
BlackChamber's Northern Virginia portfolio includes eight campuses with potential to reach 1.5 GW of gross power capacity across more than six million square feet. Northern Virginia, the world's largest data center market, has over 4.6 GWs of power capacity as of 1H 2024, with more than 1.3 GWs absorbed in 2024 and a remarkably low vacancy rate of 0.4%. The region currently has over 5.8 GWs of planned data center development.
The financing arrangements involved various capital sources, including bank balance sheets, commercial real estate and infrastructure verticals, and private credit vehicles funded with insurance company capital.
JLL Capital Markets ha arrangiato con successo oltre 1,2 miliardi di dollari in finanziamenti per la costruzione nel corso del 2024 per i progetti di sviluppo di data center di The BlackChamber Group in Virginia del Nord. Il finanziamento supporterà lo sviluppo di quattro campus shell iperscalabili con una capacità combinata di oltre 740 megawatt.
Il portafoglio di BlackChamber in Virginia del Nord comprende otto campus con potenziale per raggiungere 1,5 GW di capacità di potenza lorda su più di sei milioni di piedi quadrati. La Virginia del Nord, il più grande mercato di data center al mondo, ha oltre 4,6 GW di capacità di potenza a partire dal primo semestre del 2024, con oltre 1,3 GW assorbiti nel 2024 e un tasso di occupazione notevolmente basso dello 0,4%. Attualmente, la regione ha oltre 5,8 GW di sviluppo di data center pianificato.
Le disposizioni di finanziamento hanno coinvolto varie fonti di capitale, tra cui bilanci bancari, il settore immobiliare commerciale e infrastrutture, e veicoli di credito privato finanziati con capitali di compagnie di assicurazione.
JLL Capital Markets ha organizado con éxito más de 1.2 mil millones de dólares en financiamiento de construcción a lo largo de 2024 para los proyectos de desarrollo de centros de datos de The BlackChamber Group en Virginia del Norte. El financiamiento apoyará el desarrollo de cuatro campus con arquitectura hiperescalable con una capacidad combinada de más de 740 megavatios.
El portafolio de BlackChamber en Virginia del Norte incluye ocho campus con la posibilidad de alcanzar 1.5 GW de capacidad de potencia bruta en más de seis millones de pies cuadrados. Virginia del Norte, el mayor mercado de centros de datos en el mundo, tiene más de 4.6 GW de capacidad de energía a partir del primer semestre de 2024, con más de 1.3 GW absorbidos en 2024 y una notable tasa de vacantes de 0.4%. Actualmente, la región cuenta con más de 5.8 GW de desarrollo de centros de datos planificado.
Los acuerdos de financiamiento involucraron diversas fuentes de capital, incluyendo balances de bancos, verticales inmobiliarios comerciales e infraestructura, y vehículos de crédito privado financiados con capital de compañías de seguros.
JLL Capital Markets는 2024년 동안 12억 달러 이상의 건설 자금 조달을 성공적으로 확보하여 The BlackChamber Group의 북부 버지니아 데이터 센터 개발 프로젝트를 지원했습니다. 이 자금은 740메가와트 이상의 용량을 갖춘 4개의 하이퍼스케일 전력 셸 캠퍼스 개발을 지원할 것입니다.
BlackChamber의 북부 버지니아 포트폴리오는 600만 제곱피트 이상의 면적에 걸쳐 1.5 GW의 총 전력 용량에 도달할 수 있는 8개의 캠퍼스를 포함하고 있습니다. 북부 버지니아는 세계에서 가장 큰 데이터 센터 시장으로, 2024년 상반기 기준 4.6 GW 이상의 전력 용량을 보유하고 있으며, 2024년에는 1.3 GW 이상이 흡수되고 0.4%라는 눈에 띄게 낮은 공실률을 기록하고 있습니다. 이 지역에는 현재 5.8 GW의 계획된 데이터 센터 개발이 있습니다.
자금 조달 계약에는 은행 대차대조표, 상업용 부동산 및 인프라 분야, 보험사 자본으로 자금을 조달한 민간 신용 수단 등 다양한 자본 출처가 포함되었습니다.
JLL Capital Markets a réussi à organiser plus de 1,2 milliard de dollars de financement de construction tout au long de 2024 pour les projets de développement de centres de données du BlackChamber Group en Virginie du Nord. Le financement soutiendra le développement de quatre campus en shell hyperscale avec une capacité combinée de plus de 740 mégawatts.
Le portefeuille de BlackChamber en Virginie du Nord comprend huit campus, avec un potentiel d'atteindre 1,5 GW de capacité de puissance brute sur plus de six millions de pieds carrés. La Virginie du Nord, le plus grand marché de centres de données au monde, disposait de plus de 4,6 GW de capacité électrique au premier semestre 2024, avec plus de 1,3 GW absorbés en 2024 et un taux de vacance remarquablement bas de 0,4%. La région compte actuellement plus de 5,8 GW de développement de centres de données prévu.
Les arrangements de financement ont impliqué diverses sources de capital, y compris les bilans bancaires, les verticales en immobilier commercial et infrastructures, ainsi que les véhicules de crédit privés financés par des capitaux provenant de compagnies d'assurance.
JLL Capital Markets hat erfolgreich über 1,2 Milliarden US-Dollar an Baufinanzierung im Jahr 2024 für die Entwicklung von Rechenzentren der BlackChamber Group in Nordvirginia arrangiert. Die Finanzierung wird die Entwicklung von vier hyperskalaren Shell-Campus mit einer Gesamtkapazität von über 740 Megawatt unterstützen.
Das Portfolio von BlackChamber in Nordvirginia umfasst acht Campus mit dem Potenzial, eine 1,5 GW brutto Leistungskapazität über mehr als sechs Millionen Quadratfuß zu erreichen. Nordvirginia ist der größte Rechenzentrumsmarkt der Welt und hatte im ersten Halbjahr 2024 über 4,6 GW Leistungskapazität, wobei mehr als 1,3 GW im Jahr 2024 absorbiert wurden und eine bemerkenswert niedrige Leerstandsquote von 0,4% aufweist. Die Region hat derzeit über 5,8 GW geplanter Rechenzentrumsentwicklung.
Die Finanzierungsvereinbarungen umfassten verschiedene Kapitalquellen, darunter Bankbilanzblätter, gewerbliche Immobilien- und Infrastruktursegmente sowie private Kreditmittel, die mit Kapital von Versicherungsgesellschaften finanziert wurden.
- Secured substantial $1.2B in construction financing for data center development
- Project portfolio includes 740 megawatts of capacity across four campuses
- Operating in Northern Virginia market with extremely low 0.4% vacancy rate
- Strong market demand from Cloud, AI, and Enterprise tenants
- None.
Insights
The
The financing structure, utilizing both traditional commercial real estate and infrastructure lending channels, along with insurance company capital through private credit vehicles, showcases the evolving sophistication of data center financing. This diversified capital stack approach helps optimize the cost of capital while managing risk across the portfolio.
The planned development of 740 MW across four campuses, within a larger 1.5 GW portfolio, positions BlackChamber to capture significant market share in the world's largest data center market. The AI and cloud computing boom is creating unprecedented demand for data center capacity, transforming what was previously considered an alternative asset class into a core real estate investment segment.
The scale of this development is particularly notable given the current AI infrastructure demands. A 740 MW capacity addition represents approximately
The hyperscale powered shell campus model is specifically designed to accommodate large-scale cloud providers and AI companies requiring substantial computing power. The extremely low vacancy rate suggests these facilities could be pre-leased or quickly absorbed upon completion, given the intense competition for data center space in the region.
This transaction demonstrates JLL's growing influence in the specialized data center financing market. For context, traditional commercial real estate lenders have historically been hesitant to fund data center construction at this scale. The successful arrangement of
The involvement of insurance company capital through private credit vehicles is particularly noteworthy, as it represents a new source of institutional capital entering the data center space. This broadening of the capital base could lead to more competitive financing terms for future data center developments and potentially accelerate the sector's growth.
JLL worked on behalf of BlackChamber to arrange the financings as part of BlackChamber's
BlackChamber was advised by JLL's Capital Markets Debt Advisory team led by Jamie Leachman, Senior Managing Director and Co-Head of the
"Against a dynamic and challenging market backdrop, JLL leveraged their relationships, creativity and expertise to drive seamless and unrelenting execution with a variety of different lenders, ultimately delivering value-accretive and strategically beneficial financing solutions," BlackChamber Managing Partner Conley Patton said.
"We are seeing incredible demand for data centers with the consistent appetite from Cloud, AI and Enterprise tenants and this in turn has created a larger focus from various capital sources," Leachman said.
"What was once a small alternative segment of the commercial real estate industry is now a large segment of equity and debt deployments. BlackChamber's recent construction loan closings are evidence of the diverse capital chasing data centers. Our recent closings include capital from bank balance sheets, both commercial real estate and infrastructure verticals, but also private credit vehicles funded with insurance company capital," Greer added.
JLL's dedicated Capital Markets group is a full-service global provider of capital solutions for real estate and infrastructure investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The National Data Center Capital Markets team is run by Senior Managing Director Carl Beardsley.
For more news, videos and research resources, please visit JLL's newsroom.
About BlackChamber
The BlackChamber Group is a purpose-built, vertically integrated data center developer and SEC-registered investment adviser headquartered in
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of
Contact: Kristen Murphy, JLL Director, Public Relations
Phone: +1 617 543 4873
Email: kristen.murphy@jll.com
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SOURCE JLL
FAQ
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