The Partnership is Between Blue Owl, Chirisa Technology Parks
and PowerHouse Data Centers
NEW
YORK, Sept. 9, 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., 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. (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.
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.
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SOURCE Newmark Group, Inc.
