#United States #AI Data Center #Newmark Group #Crusoe #Abilene, Texas

Newmark Secures $7.1 Billion Loan for AI Data Center Project

In a significant development in the realm of commercial real estate financing, Newmark Group, Inc. has successfully arranged a colossal construction loan amounting to $7.1 billion. This financing is set to support the second phase of an expansive project where Blue Owl Capital, Crusoe, and Primary Digital Infrastructure aim to establish a state-of-the-art AI data center in Abilene, Texas.

The loan was facilitated through a consortium primarily led by J.P. Morgan, underscoring the immense confidence institutional investors have in this venture, which is worth a total of $15 billion. According to the announcements, the AI data center will achieve an impressive output of 1.2 gigawatts upon completion.

Jordan Roeschlaub, the Co-President of Global Debt Structured Finance at Newmark, expressed pride in facilitating this landmark transaction, citing it as a substantial step towards evolving sustainable digital infrastructures. This partnership not only shines a light on Crusoe's innovative methods in energy and computing but also reflects the increasing importance of infrastructure capital in supporting cutting-edge technologies.

The undertaking will include the construction of six new buildings, complementing the initial two structures already underway. Construction of these first two buildings, which will provide over 200 megawatts, commenced in June 2024 and is projected to come online in the first half of 2025. Meanwhile, the second phase's construction, featuring six additional buildings to achieve a total of 1.2 gigawatts, is already underway, with expectations to be energized by mid-2026.

Brent Mayo, Head of Data Center Capital Markets at Newmark, highlighted that this funding solution is crucial in accelerating the delivery of advanced digital infrastructure designed to meet the ever-growing demands of AI innovation. Notably, Newmark played an instrumental role in structuring and securing the necessary capital for this transformative project, synergizing innovative operators with institutional partners committed to long-term success.

About the Companies Involved:
Crusoe is advancing a mission to balance the future of computing with climate sustainability. Their innovative approach focuses on leveraging large-scale clean energy and building AI-optimized data centers that innovate the AI landscape.

Blue Owl, another key player, is recognized for redefining alternative asset management, currently managing a substantial $273 billion. Their strategies focus on delivering strong, risk-adjusted returns for institutional investors and individuals alike.

Primary Digital Infrastructure specializes in enhancing the growth of AI-centric data centers, aiming to provide flexible capital solutions that meet the burgeoning demand for next-gen digital infrastructure.

Newmark Group, known for its leadership in the commercial real estate space, continues to thrive, powering every phase of the property lifecycle. Their tailored solutions cater to a wide array of clients, reaffirming their stature in the real estate industry. The company generated notable revenues exceeding $2.8 billion for the fiscal year ending in March 2025.

In summary, this alliance between financial powerhouses and innovative operators exemplifies how strategic financing is vital for realizing ambitious projects that will shape the future of technology and sustainability. As these projects come to fruition, they will undoubtedly set benchmarks for the speed and efficiency of future digital infrastructures.

Stay tuned for further updates on this monumental project as it progresses towards completion.