Newmark Group announced on May 22, 2025, that it arranged a $7.1 billion construction loan for Blue Owl Capital, Inc., Crusoe, and Primary Digital Infrastructure. This loan, provided by a consortium led by J.P. Morgan, will fund the second phase of a $15 billion joint venture to develop a 1.2-gigawatt AI data center in Abilene, Texas.
Newmark's Co-President of Global Debt & Structured Finance Jordan Roeschlaub and his team arranged the funding. Construction of this second phase, consisting of six additional buildings, began in March 2025 and is expected to be energized in mid-2026, setting a new bar for speed of delivery for greenfield, hyperscale digital infrastructure projects.
Newmark also acted as strategic advisor on the first phase of the project, securing both equity and debt financing. This landmark transaction represents a significant milestone in the evolution of sustainable digital infrastructure, validating Crusoe's innovative approach to energy and computing and highlighting infrastructure capital's role in enabling next-generation technologies.
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