A US data center developer has secured more than $1 billion in financing as part of its plans to develop campuses across Virginia.

JLL this week announced its Capital Markets group had arranged more than $1.2 billion in construction financing throughout 2024 on behalf of data center developer, BlackChamber Group.

innovation gateway
– BlackChamber

The company said the financings will facilitate the development of four hyperscale powered-shell campuses located across Northern Virginia, collectively totaling more than 740MW of capacity.

JLL worked on behalf of BlackChamber to arrange the financings as part of the latter’s Northern Virginia development portfolio, which reportedly includes eight campuses that could total 1.5GW of gross power capacity across more than 6 million square feet at full build-out.

The BlackChamber Group describes itself as a purpose-built, vertically integrated data center developer.

"Against a dynamic and challenging market backdrop, JLL leveraged their relationships, creativity, and expertise to drive seamless and unrelenting execution with a variety of different lenders, ultimately delivering value-accretive and strategically beneficial financing solutions," said BlackChamber managing partner Conley Patton.

BlackChamber Group was founded in 2019, focused on building build-to-suit powered shells for hyperscalers. The company's employees have experience at Meta, JLL, COPT, Credit Suisse, and Whiting-Turner.

Dgtl Infra has previously reported the company owns more than 300 acres of land in Loudoun and Prince William Counties, including in Arcola, Sterling, and Leesburg, as well as Gainesville.

The company is behind the John Marshall Commons Tech Park in Haymarket and the Village Place Technology Park in Gainesville, both in Prince William. It is also involved with the Innovation Gateway data center project in Loudoun County, as well as a project in Arcola.

Drake Greer, senior director and member of JLL's national data center capital markets team, added: "What was once a small alternative segment of the commercial real estate industry is now a large segment of equity and debt deployments. BlackChamber's recent construction loan closings are evidence of the diverse capital chasing data centers. Our recent closings include capital from bank balance sheets, both commercial real estate and infrastructure verticals, but also private credit vehicles funded with insurance company capital.”