Newmark Group (NMRK) said Thursday it arranged a $7.1 billion construction loan to support the second phase of an artificial intelligence data center project in Abilene, Texas.
The financing, led by JP Morgan (JPM), will fund part of a $15 billion joint venture among Blue Owl Capital (OWL), Crusoe, and Primary Digital Infrastructure.
The second phase includes the construction of six additional buildings, bringing the total data center campus to eight buildings. Phase one, which began in June 2024, includes two buildings with more than 200 megawatts of capacity and is expected to go live in H1, the company said.
Construction of the second phase began in March 2025 and is expected to deliver 1.2 gigawatts of capacity by mid-2026, Newmark added.
Shares of Newmark Group rose nearly 1% in recent trading activity.
Price: 10.37, Change: +0.09, Percent Change: +0.83
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