TPG Real Estate Partners and Quantum Loophole Announce Strategic Joint Venture to Develop Maryland’s First Gigawatt-Scale Data Center
AUSTIN, Texas – (COMMERCIAL THREAD) – Quantum Loophole, Inc., and TPG Real Estate Partners (TREP), the dedicated real estate equity investment platform of global alternative asset firm TPG, today announced that they have formed a strategic joint venture to acquire and develop a first-of-its-kind gigawatt-scale data center community in Frederick County, Maryland. As part of the joint venture, TREP acquired a minority stake in Quantum Loophole.
TREP’s investment was used, in part, to fund Quantum Loophole’s recently completed purchase of approximately 2,100 acres of property in Frederick County, Maryland, formerly known as Alcoa Eastalco Works .
âThe demand for cloud computing and cloud-based services has grown rapidly over the past decade, and Frederick County is a major outlet for the Northern Virginia data center market,â said Ty Newell, Managing Director of TREP. âWith industrial zoning and access to significant electrical capacity, the development site will offer several advantages to a rapidly growing large-scale tenant base that focuses intensely on speed of delivery. We are delighted to partner with the Quantum Loophole team and look forward to implementing our shared vision of innovative and sustainable development that will bring lasting value to the local community. ”
âPartnering with TREP reinforces our vision and puts us firmly on the path to building the first-ever large-scale gigawatt data center community,â commented Josh Snowhorn, Founder and CEO of Quantum Loophole. âThis project marks the first comprehensive approach to data center development including environmental impact, efficiency in energy use and distribution, fiber optic connectivity and a streamlined approach to construction. Quantum Loophole’s approach delivers cost savings, accelerated time to market and a revolutionary, industry-leading commitment to sustainability for large-scale data center developments.
The clean, one-of-a-kind, master-planned cloud community in Frederick County is less than a millisecond by fiber from the heart of Northern Virginia’s internet ecosystem. Starting with a transmission power capacity of one gigawatt, it is expected that data center modules with a capacity of 30 to 120 megawatts can be deployed in less than nine months. In addition, the construction of a massive and robust fiber ring with regional interconnection points enables large-scale traffic flows for Hyperscale, Telecom and Enterprise customers.
âWe are delighted to partner with TREP on this project and see it as the first of many exciting initiatives we have planned,â added Snowhorn. “Together, we are delivering a truly powerful next-generation clean cloud community that will reshape the industry, raising the bar for accountability, sustainability and the planned future development of data centers to the next level.”
Quantum Loophole and TREP are committed to developing the planned main data center in a way that enables the most advanced computer technology, benefits local communities and is environmentally friendly. The project plan includes efficient design for sustainable use of electricity and water, investments in robust fiber optic connectivity, and thoughtful, nature-oriented aesthetics to protect views and reduce visibility of track public buildings, while preserving existing structures important to local history.
âThis is great news for Frederick County! I am happy that the former Eastalco property is once again serving as an employment center with high paying jobs, âsaid Jan Gardner, Frederick County Manager. âQuantum Loophole is committed to developing an environmentally friendly data center project that respects and values ââthe surrounding community and our Livable Frederick master plan. Data centers provide a stable source of tax revenue and jobs, while having a net positive impact on local services such as schools, roads and other infrastructure. I can’t wait for Quantum Loophole to share their plans with the surrounding community.
Houlihan Lokey is the exclusive financial advisor to Quantum Loophole. Jackson Walker, LLP and David Severn of Offit Kurman PA served as legal advisers to Quantum Loophole.
About TPG Real Estate Partners
TPG Real Estate Partners (“TREP”) is the dedicated real estate equity investment platform of global alternative asset firm TPG. Today, TREP manages $ 5.6 billion in assets. Since its inception in 2009, TREP has built a differentiated investment portfolio consisting primarily of rich real estate platforms and portfolios located in the United States and Europe. TREP’s investment strategy is based on a research and data driven approach to the generation of investment themes, which allows it to be very selective in identifying the most interesting opportunities in specific sectors Au During its ownership, TREP’s value creation strategies focus on generating returns in three key dimensions: maximizing ownership-level performance, aggregating and maintaining strategically aligned portfolios, and ‘improved platform capabilities. partnership with dedicated management teams.
TPG was founded in 1992 and today has $ 96 billion in assets under management with investment and operational teams in 12 offices around the world. For more information, visit www.tpg.com.
About the quantum loophole
Quantum Loophole disrupts data center development delays with rapid platform delivery for field, power, connectivity and scalability. The company’s first-of-its-kind, planned, gigawatt-scale data center development approach uniquely addresses the scalability, connectivity and cost-effectiveness challenges of today’s large-scale deployments. hui. Powered by innovative energy, fiber and access control systems, Quantum Loophole’s master planning communities take the guesswork out of adding the necessary data center capacity, enabling hyperscalers, enterprises and colocation providers to accelerate time-to-market capabilities. Incorporating renewable energy, land and water improvements, Quantum Loophole offers an environmentally friendly approach that reduces the overall carbon footprint while fully enabling the use of electric land with the highest level of connectivity, reliability and security. For more information, please visit www.quantumloophole.com.
This press release contains, and our officers and representatives may from time to time make, “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified. by words such as: “plan”, “objective”, “seek”, “believe”, “project”, “estimate”, “‘wait”, “the strategy”, “the future”, “,”, “” will, “and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding our plans for data center cities, sustainable growth and community spirit, the ability to manage pricing pressure, and similar statements.
Forward-looking statements are neither historical facts nor guarantees of future performance. Instead, they are based solely on our current beliefs, expectations and assumptions about the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control. Our actual results and financial condition may differ materially from those shown in forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in forward-looking statements include, among others, economic and financial conditions, including volatility in interest rates and foreign exchange rates. ; commodity and stock prices, and the value of financial assets, land prices, electricity price volatility, capital and / or credit market availability; the adequacy of our cash flows; strategic actions; the occurrence of hostilities; political instability or catastrophic events; changes in customer demand; the extent to which we are successful in building new, long-term relationships with customers and the level of service failures that could cause customers to use the services of competitors; and developments and changes in laws and regulations, including increased regulation of the power and data infrastructure sector through legislative measures and revised rules and standards, among others.
Any forward-looking statements we make in this press release are based solely on information currently available to us and speak only as of the date on which they are made. We assume no obligation to publicly update any forward-looking statements, written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.