Affinius Capital's joint venture has secured $975 million in financing for a new data center property in Northern Virginia, Project Helios. The asset is owned in partnership with Corscale Data Centers.
Blue Owl provided the financing, with Newmark arranging it. Project Helios is fully leased long-term to a top cloud service firm investor, which Newmark noted speaks to the property's strong infrastructure and tenancy.
"This transaction reflects continued institutional conviction in digital infrastructure, particularly in Northern Virginia, where demand is driven by unmatched connectivity, scale and proximity to end users," Christopher Kramer, vice chairman of Newmark, who helped represent the borrowers on the deal, said in a statement.
"High-quality assets in established hyperscale ecosystems, leased to investment-grade tenants, are drawing strong interest from capital providers."
The property is located within a data campus, which Newmark said includes other investment-grade tenants with hyperscale capabilities.
Northern Virginia has remained the country's largest data center market. In the first half, a CBRE report found that the market's inventory was 3,480.1 MW, up 869 MW year-over-year, with another 2,078.2 MW under construction. Plus, vacancy was just 0.7 percent. Nationally, vacancy was at a record low of 1.6 percent.
Affinius operates another data center property in Northern Virginia — a 130-acre campus in Gainesville. The site includes five data centers, holding a combined 306 MW of power capacity.
According to Affinius, Northern Virginia is one of the fastest-growing areas in the country, with a population that exceeds 2.5 million.
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