Newmark Secures $7.1 Billion Loan for AI Data Center Expansion

Newmark Group, Inc. has arranged a $7.1 billion construction loan for Blue Owl Capital, Crusoe, and Primary Digital Infrastructure to fund the second phase of a 1.2-gigawatt AI data center in Abilene, Texas, announced in a press release. The loan, led by J.P. Morgan, is part of a $15 billion joint venture aimed at expanding the data center's capacity.

The project involves constructing six new buildings, adding to the two already under construction, and is expected to be completed by mid-2026. Crusoe, in collaboration with funds managed by Blue Owl Capital and Primary Digital Infrastructure, will sponsor the construction. Newmark's strategic role included securing both equity and debt financing for the venture.

The first phase of the project, which began in June 2024, is expected to be operational by the first half of 2025. The second phase commenced in March 2025, setting a new standard for the rapid delivery of hyperscale digital infrastructure projects.