Milbank LLP represented a syndicate of lenders led by Société Générale, Desjardins and Nomura in connection with a $600 million data center financing developed by Blue Owl Capital, Chirisa and PowerHouse. The data center, which is located in Virginia, has its capacity leased to CoreWeave (a leading AI cloud-computing provider).
“We are thrilled to have worked with the lenders on another landmark data center financing,” said partner Jaime Ramirez. “This transaction will further increase CoreWeave’s presence in the market and highlights the widespread interest in large-scale digital infrastructure solutions being advanced by developers such as Blue Owl, Chirisa and PowerHouse.”
“Demand for digital infrastructure solutions continues to grow exponentially, and this transaction is yet another testament to the financial markets’ desire to invest around leading GPU/data center-focused companies like CoreWeave,” added Global Project, Energy and Infrastructure Finance Group chair Dan Bartfeld.
The Milbank team was led by Mr. Ramirez, special counsel Tim Fitzpatrick, associates Katherine Hannah, Upasana Guha Niyogi and Audrey Ortiz, law clerks Linda Nguyen, Sarah Brooks and Adrien Fourneaux, and international associate Jose Manuel Lopez Castro.
This transaction is another example of Milbank serving as lead counsel in the digital infrastructure space, where it is the most active law firm throughout the digital infrastructure value chain, ranging from chip foundries, GPU procurement and data centers (and associated power solutions) to fiber and towers. Milbank’s Digital Infrastructure team has led over $60 billion of data center and related transactions in the past year.
