Major 150MW expansion initiatives across the USA

We’re excited to announce our major 150MW expansion across the USA focused on hyperscale and AI workloads.

Chirisa Technology Parks announces US expansions to bring total planned capacity to 400MW across four locations. Rapid delivery of high-performance, leading-edge facilities to support hyperscale, HPC, and AI customers across North America and Europe.

RICHMOND, VA and DUBLIN, Ireland; January 22, 2024. Chirisa Technology Parks (“CTP”), the wholesale and hyperscale data center development platform of Chirisa Investments, today announce a major expansion of its data center footprint across Virginia, Illinois, Washington and New Jersey. Following these expansions, CTP will have deployed over 400 MW of critical capacity for large wholesale and hyperscale customers in partnership with PowerHouse Data Centers. CTP and PowerHouse’s capability includes build-to-suit hyperscale powered shells, HPC and AI-focused highdensity deployments, turnkey data center solutions for Cloud customers, and bespoke edge deployments in major metropolitan markets.

Lee Hayes, Managing Director of Chirisa and President of CTP, commented; “We have employed a patient and long-term strategy at CTP, leveraging our close industry relationships from Chirisa’s 25+ year involvement as an investor and operator in tech and telecoms…”

Our CTP platform is focused on delivering for the specialized and more challenging requirements of large and sophisticated customers. We are very pleased to announce the latest expansion of our footprint today at PTC.

From its inception, CTP’s strategic focus has been on rapid delivery of high-performance, leading-edge facilities based on bespoke designs with top-tier efficiency. The platform’s pipeline of brownfield and greenfield locations in prime data center geographies enables speed to market for new capacity at scale. The CTP team and its strategic partners including PowerHouse Data Centers are dedicated to meeting the complex needs of large and sophisticated customers across North America and Europe.
Doug Fleit, Founder & CEO of PowerHouse Data Centers, commented;

We’re thrilled to partner with Chirisa to deliver these state-of-the-art data center facilities

with unbeatable speed-to-market that meets the complex needs of hyperscale tenants.

Our shared commitment to exceeding those needs is foundational.

CTP is committed to delivering high technology campuses with a positive impact on the communities and environment in which it operates. Jim Holland, Chairman, Chesterfield County Board of Supervisors, commented, “Chirisa’s arrival in Chesterfield and transformation of the former CapitalOne campus at Meadowville Technology Park has had a measurable positive impact on the economic development of the county and brought new attention to this highly attractive business destination. We look forward to the future expansion of CTP and the significant investment and employment that it will bring as Chesterfield continues its journey
towards “Excellence”.

CTP has completed over $300M of debt and equity financing for growth over the past 12 months including $200M of debt financing from Brookfield Infrastructure Debt and $50M of debt financing from Crestline Direct Lending. CTP was advised by the Capital Markets and Debt Advisory teams at CBRE, including Kristina Metzger, James Millon, Tom Traynor, and Mark Finan.

CTP locations:

  • Richmond, Virginia:
    Digital Drive Campus. Co-developed with Powerhouse Data Centers, the campus expands on the planned 500,000 square feet of data center space on the existing 300-acre Richmond campus at Meadowville Technology Park, to provide up to 1 million square feet of state-of-the-art data center space for hyperscale users when completed. CTP and Powerhouse are currently in the process of delivering a new 300 MW substation on the campus to accommodate the rapidly growing demand in the Richmond, VA market.
  • Chicago, Illinois:
    Partnering with PowerHouse Data Centers as a development partner, CTP recently delivered the first phase of a 160,000-square-foot, 30MW specialist facility, including dedicated lab space and state-of-the-art cooling systems. CTP and PowerHouse will complete the second phase including a high-density HPC installation with direct-to-chip cooling and high-performance closed-loop cooling systems by December 2024.
  • Piscataway, NJ:
    CTP recently acquired a large facility in Piscataway, NJ and intends to build out 25MW of capacity at the site, commencing in 2024 with a 12MW build-out for a large customer. The facility hosts several large-scale customers with critical requirements to deliver content and services to themajor surrounding metropolitan areas of New York, New Jersey, and Philadelphia.
  • Seattle, Washington:
    CTP recently acquired a new 10MW standalone facility in Lynnwood, Washington, formerly occupied by a hyperscale tenant. CTP will refit this facility and deploy an initial 5MW edge installation for an AI-focused customer seeking rapid deployment in the Washington market.

About CTP

Chirisa Technology Parks (CTP) is focused on developing highly connected data center campuses with ample power availability in high-demand growth markets in the United States and Europe. CTP’s existing data centers are located in Richmond, VA; Chicago, IL; Piscataway, NJ; and Seattle, WA. CTP currently offers over 500,000 square feet of purpose-built data center capacity, with a pipeline in excess of 400MW under development in the USA. CTP’s designs and rapid delivery process are focused on high-efficiency, leading-edge deployments. CTP has broad capability to partner and/or operate critical facilities, offering solutions for powered shell, build-to-suit, and turnkey delivery of assets for large and sophisticated customers.

About Powerhouse

PowerHouse Data Centers, a division of AREP, is a developer and owner of next-generation data centers and provides technical real estate solutions for hyperscalers across the country. Starting in the world’s largest data center market in the heart of Northern Virginia before strategically expanding to key markets across the United States, PowerHouse Data Centers owns its land sites, offering unique fast-track approvals and zoning approvals. As a disruptor, PowerHouse Data Centers provides flexible next-generation data center models with the quickest speed to market of any data center while meeting hyperscalers’ growing market, data, utility, and space demands. With a full suite of development services, the company is committed to building 27 data centers representing over 9 million square feet of data center space. For more information, visit www.powerhousedata.com and follow us on LinkedIn, YouTube and X.

About Chirisa

Chirisa is a global investor active across Digital Infrastructure and Real Estate in the Americas and Europe. The firm’s exceptional track record of value creation is driven by a multidisciplinary approach, combining deep operating expertise with extensive private investment and financing experience. We seek situations where our capital, expertise, and operational support help create substantial and sustainable value. Investing as a principal, we have a flexible and long-term approach to value creation. Chirisa’s platform investments include Viatel Technology Group, Chirisa Technology Parks, Digital Fortress, and Core Financial Systems.

January 22, 2024