TPG And Quantum Loophole Has Acquired Land Deal For $100 Million

A joint venture between TPG Real Estate Partners and Quantum Loophole has purchased a 2,100-acre property in Frederick, Marry Land, from Alcoa Corporation for $100 million.

The site will be redeveloped into what its sponsors are calling a first-of-its-kind, gigawatt-scale data center community.

Ty Newell, TPG Real Estate Partners’ managing director, stated demand for cloud computing and cloud-based services has expanded quickly over the past decade, and Frederick County is an important growth outlet for the Northern Virginia data center market.

Located at 5601 Manor Woods Road, the land was the site of a smelter and was marketed as the largest parcel of contiguous commercial land in the Washington-Baltimore region.

Starting at around $47,619 an acre, the price is considerably lower than land in the data center sites of Northern Virginia’s Loudoun and Prince William counties, which charge around $1 million an acre, based on deals over the past year. 

The scheduled development plan involves a design for sustainable power and water use, investments in robust fiber connectivity, and a nature-first aesthetic to protect views and lessen visibility from public roadways, protecting existing historical structures. 

Houlihan Lokey served as financial adviser to Quantum Loophole

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