N
ewmark Group, Inc. (Nasdaq: NMRK) has secured a $7.1 billion construction loan to finance the second phase of a massive AI-focused data center campus in Abilene, Texas. The loan will support the expansion of a 1.2-gigawatt hyperscale facility as part of a broader $15 billion joint venture between Crusoe, Blue Owl Capital, and Primary Digital Infrastructure.

    The financing, led by J.P. Morgan and backed by institutional lenders, is one of the largest construction loans ever arranged for a data center development globally. Newmark's Co-President Jordan Roeschlaub orchestrated the deal with Vice Chairman Nick Scribani, Managing Director Ben Kroll, and others.

    "This landmark transaction validates Crusoe's innovative approach to energy and computing," said Roeschlaub. "This partnership highlights the growing role of infrastructure capital in enabling next-generation technologies." The loan supports six new buildings at the data center campus, which will bring the total number of buildings to eight.

    The initial phase began construction in June 2024 and is expected to go live in the first half of 2025. Phase two construction started in March 2025 and is on track to be energized by mid-2026. The facility will support AI applications, machine learning models, and large-scale cloud computing environments using renewable energy resources.

    Newmark has been involved in the venture from the outset, acting as strategic advisor for both phases of the project. This deal solidifies Newmark's role as a key player in capital markets for next-generation infrastructure projects, reinforcing its leadership in high-tech real estate advisory.