Commercial, Energy Efficiency - July 1, 2021
TPG Real Estate to Develop Efficient Data Center Facility in NoVA
TPG Real Estate Partners (TREP) is acquiring and developing a gigawatt-scale data center community in Frederick County, Md. through a new partnership with Quantum Loophole.
The pair formed a strategic joint venture to develop the community and includes an acquisition by TREP of a minority stake in Quantum Loophole. The funding for the acquisition was used for the purchase by Quantum Loophole of a 2,100-acre property in Frederick County, Md.
The facility will begin by deploying between 30 and 120 MW of data center capacity in the first nine months, featuring robust fiber connectivity and efficient design that conserves power usage.
The data center community location was chosen for its ability to seamlessly support the growing tech community in Northern Virginia.
“Demand for cloud computing and cloud-based services has grown rapidly over the past decade, and Frederick County is an important growth outlet for the Northern Virginia data center market,” Ty Newell, managing director at TREP, said in a statement. “With industrial zoning and access to significant power capacity, the development site will offer several benefits to a fast-growing hyperscale tenant base that is intensely focused on speed of delivery. We are pleased to partner with the team at Quantum Loophole and look forward to executing on our shared vision for an innovative and sustainable development that will deliver enduring value to the local community.”