JLL Raises More Than $1.2 Billion in Northern Virginia Construction Financing for Data Center Developer, The BlackChamber Group By Investing.com

WASHINGTON, January 15, 2025 /PRNewswire/ — JLL‘with¯Capital Markets Group announced today that it has agreed to close 1.2 billion dollars in the financing of construction during 2024 on behalf of BlackChamber group (“BlackChamber“). The funding will facilitate the development of four hyperscale powered shell campuses located across the street Northern Virginia a total of over 740 megawatts of capacity.

JLL he worked on behalf of BlackChamber to organize financing within BlackChamber Northern Virginia development portfolio, which includes eight campuses with the potential capacity to generate nearly 1.5 GW of gross capacity across more than six million square feet.

BlackChamber advised JLLAdvisory team for capital markets headed by Jamie Leachmansenior administrative director and co-head of the department Washington, DC office i Drake Greersenior director and member JLL National Data Center Capital Markets team.

“In a dynamic and challenging market environment, JLL has leveraged its relationships, creativity and expertise to drive seamless and relentless execution with a range of diverse lenders, ultimately delivering value-enhancing and strategically beneficial financial solutions,” BlackChamber Managing Partner Conley Patton he said.

Northern Virginia is the largest data center market in the world, consisting of more than 4.6 GW of power capacity as of the 1st half of 2024. In 2024. Northern Virginia recorded more than 1.3 GW of absorption, ending the year with a vacancy rate of just 0.4%. Currently, in Northern Virginia there is more than 5.8 GW of planned data center development.

“We’re seeing incredible demand for data centers with consistent appetite from Cloud, AI and Enterprise tenants, and this in turn has created greater focus from various sources of capital,” Leachman said.

“What was once a small alternative segment of the commercial real estate industry is now a large equity and debt equity segment. BlackChamber’s recent construction loan closings are a testament to the diverse capital chasing data centers. Our recent closings include bank balance sheet equity, and commercial real estate and infrastructure verticals, but also private credit vehicles financed with the capital of insurance companies,” added Greer.

JLLThe dedicated Capital Markets group is a global provider of full-service capital solutions for real estate and infrastructure investors and tenants. The group’s deep knowledge of the local market and global investors provides the best solutions for clients, be it investment sales and advisory, debt advisory, equity advisory or recapitalization. National Data Center Capital Markets the team is led by a senior managing director Carl Beardsley.

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About BlackChamber
BlackChamber group is a purpose-built, vertically integrated data center developer and SEC-registered investment advisor based in Washington, DC. Designed from the ground up to be the optimized real estate partner to the world’s leading hyperscale companies in growing their infrastructure base, BlackChamber has extensive industry experience and a track record of successful data center development.

About JLL¯
For more than 200 years, JLL (NYSE: JLL), a leading global commercial real estate management and investment firm, has helped clients acquire, build, own, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of 20.8 billion dollars and operating in more than 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. JLL is a trademark and registered trademark of Jones Lang LaSalle Incorporated. For additional information visit jll.com.

Contact: Kristen Murphy, JLL Director, Public Relations
Phone: +1 617 543 4873
E-mail: kristen.murphy@jll.com