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GI Partners Signs Major Lease with DataBank for New Data Center in Ashburn, Virginia
New Lease Represents Third GI/DataBank Collaboration
ASHBURN, VA, July 25, 2024 – GI Partners, a leading private alternatives investment firm, has announced the execution of a large lease with DataBank. The lease will encompass the entirety of a new two-story data center GI Partners is currently constructing, with delivery expected in Q2 2025.
The building is being constructed on GI’s existing campus on Red Rum Drive in Ashburn, VA where GI owns two existing data center buildings, both already leased to DataBank. In conjunction with construction, GI Partners added an additional 29 MW of power to the site.
GI Partners has longstanding familiarity with the Northern Virgina data center market, the largest in the country. Today, the firm owns six data center assets in Northern Virginia totaling over 1 million square feet.
“Ashburn and Loudoun County as a whole is the largest and most active data center hub in the world and this project represents another example of GI’s extensive value creation capabilities in data centers,” notes Tony Lin, Managing Director of GI. “GI has a proven track record in strategically adding value to existing and newly acquired data center assets and this project adds to that long list.”
About GI Partners
Founded in 2001, GI Partners is a private investment firm with over 170 employees and offices in San Francisco, New York, Dallas, Chicago, Greenwich, Scottsdale, and London. The firm has raised more than $43 billion and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies. The real estate team focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The private equity team invests primarily in companies in the healthcare, services, and software sectors. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.