JLL raises over $1 billion of construction financing in Northern Virginia for data center developer, The BlackChamber Group

Jamie Leachman

WASHINGTON, DC – JLL’s Capital Markets group has arranged over $1.2 billion in construction financing throughout 2024 on behalf of The BlackChamber Group (“BlackChamber”). The financings will facilitate the development of four hyperscale powered shell campuses located across Northern Virginia collectively totalling over 740 megawatts of capacity.  

 JLL worked on behalf of BlackChamber to arrange the financings as part of BlackChamber’s Northern Virginia development portfolio, which includes eight campuses with the prospective capacity to yield nearly 1.5 GW of gross power capacity across more than six million square feet.

 Drake Greer

BlackChamber was advised by JLL’s Capital Markets Debt Advisory team led by Jamie Leachman, Senior Managing Director and Co-Head of the Washington, D.C. office and Drake Greer, Senior Director and member of JLL’s National Data Center Capital Markets team.

 

“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,” BlackChamber Managing Partner Conley Patton said.

Conley Patton

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

 

“We are seeing incredible demand for data centers with the consistent appetite from Cloud, AI and Enterprise tenants and this in turn has created a larger focus from various capital sources,” Leachman said.

 

“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,” Greer added.

 

JLL’s dedicated Capital Markets group is a full-service global provider of capital solutions for real estate and infrastructure investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The National Data Center Capital Markets team is run by Senior Managing Director Carl Beardsley.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

 

 

Contact:

 

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

617-543-4873

JLL expands Sustainability services with dedicated energy practice led by Josephine Tucker

Josephine Tucker

 CHICAGO, IL – JLL announced it is boosting its existing Sustainability services by forming the Energy Advisory and Sustainability practice. Led by clean energy expert

Josephine Tucker, the team works across JLL’s business lines and industries to serve real estate investors and commercial and public sector clients.

 

 The next few years are essential for building owners and occupiers to leverage the net-zero transition. According to JLL, successfully decarbonizing buildings depends on three main elements: energy efficiency, electrification and clean energy sources – all areas of specialty for the Energy Advisory and Sustainability practice.

 

 Sanjay Rishi

“In response to accelerating demand, we have established a dedicated practice for energy advisory services to expand our sustainability offerings,” said Sanjay Rishi, CEO, Work Dynamics, Americas. “Josephine is a recognized authority in the clean energy field, and I’m excited that more of our clients can now benefit from her leadership and the expertise of her team.”

 

As Americas Head of Energy Advisory and Sustainability, Tucker reports to Rishi. She joined JLL in 2022 to lead JLL’s Clean Energy and Infrastructure Advisory services to address aging infrastructure and provide renewable transaction services to clients.

 

Prior to joining JLL, she amassed more than 15 years of experience in energy, real estate and transportation, with a focus on strategy, finance and economic analyses.

 

“Market demand for clean energy and infrastructure is at an all-time high,” Tucker said. “More and more companies are seeking to reduce their carbon footprint while, at the same time, we see this rapid acceleration of power demand from data centers, reshoring of manufacturing and the electrification of everything from buildings to cars to infrastructure. 

"This fundamentally changes how businesses own, operate and lease spaces. As a leading real estate management and consulting company, JLL can play a huge role in servicing energy demands and reducing emissions. I’m thrilled to lead that effort.”

 

For more information, visit JLL’s Occupier Services page.

 

For more news, videos and research resources, please visit JLL’s newsroom.

 

 

 

Contact:

 

Kimberly Steele
Director, Global Occupier Public Relations
Work Dynamics and Industries, JLL
T +1 713 852 3420
M +1 832 244 9994
JLL.com

 

Bainbridge Welcomes Industry Leader Marcie Williams as Chief Strategy Officer

 Marcie Williams

 WELLINGTON, FL and CHARLOTTE, NC – The Bainbridge Companies (Bainbridge) significantly enhanced its executive leadership team with the addition of

Marcie Williams as Chief Strategy Officer. Williams brings more than three decades of distinguished experience in all aspects of multifamily real estate.

 

Based in Charlotte, North Carolina, Williams will oversee Bainbridge’s operations, brand, culture and growth. Bainbridge, which has developed and acquired more than 43,000 apartment homes representing more than $8 billion in transactions since its 1997 inception, is strategically pursuing portfolio expansion opportunities in targeted Sun Belt markets.

 

“Marcie’s arrival comes at an ideal time for Bainbridge,” said Bainbridge Chairman, CEO and Managing Principal Richard Schechter. “Her vast experience will benefit us in all aspects of the company and enable us to continue creating future-facing properties in first-rate neighborhoods where residents can pursue better lives. We enthusiastically welcome Marcie to the Bainbridge family.”

Richard Schechter

 

Prior to joining Bainbridge, Williams served as CEO at RKW Residential. Her impressive career also includes previous roles at Greystar and Camden Property Trust.

 

Williams is a Certified Apartment Portfolio Supervisor (CAPS) and Certified Property Manager (CPM®). She has been deeply involved in the Greater Charlotte Apartment Association (GCAA), acting as Board President and as a founding member of its Education Advisory Council.

 

Williams has received numerous awards and recognitions from GCAA, Apartment Association of North Carolina, Charlotte Business Journal, GlobeSt and others.

 

“I am so excited to leverage my experience for the benefit of Bainbridge’s continued growth and success,” Williams said. “Bainbridge operates with a commendable and inspiring mission, always prioritizing its residents. I look forward to working with Bainbridge’s leaders to advance our mission.”

 

A University of North Carolina at Chapel Hill graduate, Williams is actively involved with the Institute of Real Estate Management (IREM) and Urban Land Institute (ULI) and serves on the Membership Committee for the National Multifamily Housing Council (NMHC) and the UNC-Charlotte Childress Klein Center for Real Estate Advisory Board.

 

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 CONTACT:

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

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http://www.bainbridgecompanies.com