US real estate company Comstock is entering the data center space and partnering on two projects.

The Nasdaq-listed firm this week announced the official launch of its Data Center Platform (DCP), along with its entry into two separate arrangements with partners to pursue the development of large-scale data center campuses across land parcels in Oklahoma and the Mid-Atlantic region.

“We are pleased to announce Comstock's entry into the high-growth data center market and participation in one of the real estate industry's most exciting and rewarding sectors," said Christopher Clemente, Comstock CEO. "The rapid growth of AI has caused data centers to be among the world's most coveted assets, driven by a lack of supply and unprecedented demand.

"In combining our vast experience with securing entitlements and designing, developing, and operating large-scale developments with the land rights and other critical resources of our strategic partners, both ventures represent low-risk opportunities to generate new, and potentially significant, revenue streams in the years ahead."

In Oklahoma, Comstock is partnering with Canadian energy firm Jericho Energy Ventures. The joint venture will focus on assembling a portfolio of developable land from approximately 18,000 acres of Jericho's subsurface land and energy assets with surface land interests, and utilizing the land’s access to natural gas resources.

As part of the deal, Comstock made a $1.5 million initial investment in Jericho through a non-brokered private placement in return for a seven percent share in Jericho. Jericho announced the partnership last week.

In the Mid-Atlantic, Comstock has entered into an amended and restated asset management agreement with an affiliate entity of Comstock Partners LC (CP), a private entity controlled by CEO Clemente and family members, to provide data center site development services for parcels located. The site is reportedly being acquired by an unnamed “leading developer of data center campuses,” with Comstock providing services to the CP as the land goes through entitlement.

Few further details haven’t been shared, but Comstock said the land in question could deliver upwards of 900MW.

In both cases, the land is either owned or controlled by the partner, with Comstock set to leverage its “experience securing entitlements and executing large-scale real estate and infrastructure developments.”

Founded in 1985, Comstock is an asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington DC region. Its portfolio comprises approximately 10 million square feet (929,030 sqm) at full build-out, comprising offices, residential, retail, and hotel properties.