Penzance Secures $100M Construction Loan From QuadReal for NoVA Data Center
By Mark Hallum October 10, 2025 1:26 pm
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Real estate developer Penzance has secured $100 million in financing to build a pre-leased data center in Northern Virginia.
The construction financing from QuadReal Property Group will help the development firm get off the ground with what it is calling the Chantilly Premier, a three-story facility on 12 acres at 4151 Auto Park Circle in Fairfax County’s Data Center Alley, which was rezoned for industrial use earlier in the year.
“[Chantilly Premier] will deliver critical digital infrastructure in the world’s largest and most important data center market,” Cristopher White, partner at Penzance, said in a statement. “We continue to advance our development pipeline and scale our platform in the data center industry, which reflects our commitment to the sector and the strength of this core data center market.”
Cushman & Wakefield’s Equity, Debt & Structured Finance team consisting of Marshall Scallan, Michael Zelin and Bindi Shah negotiated on behalf of the borrower in the deal.
The Washington, D.C.-based developer did not immediately disclose the planned size of the facility or the name of the tenant. The planned development’s connection to “robust” power infrastructure including fiber optics as well as its location made the development a significant deal, according to Scallan.
“This latest debt financing is in direct alignment with QuadReal’s investment strategy and our conviction in alternatives including data centers,” Paul Stern, senior vice president of U.S. debt investments at QuadReal, said in a statement.
Mark Hallum can be reached at mhallum@commercialobserver.com.
