JLL Arranges $1B in Construction Financing for NoVA Data Center

JLL Arranges $1B in Construction Financing for NoVA Data Center

JLL has arranged over $1.2 billion in construction financing throughout 2024 on behalf of The BlackChamber Group. The financings will facilitate the development of four hyperscale-powered shell campuses located across Northern Virginia, collectively totaling over 740 megawatts of capacity.   

JLL worked on behalf of BlackChamber to arrange the financings as part of BlackChamber’s Northern Virginia development portfolio, which includes eight campuses with the prospective capacity to yield nearly 1.5 GW of gross power capacity across more than six million square feet.

JLL’s Capital Markets Debt Advisory team was led by Jamie Leachman, Senior Managing Director and Co-Head of the Washington, D.C. office and Drake Greer, Senior Director and member of JLL’s National Data Center Capital Markets team. “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,” said Leachman.

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