Latest news with #PowerHouse
Associated Press
6 days ago
- Business
- Associated Press
PowerHouse Strengthens Core Leadership Portfolio with Dual Strategic Appointments
MCLEAN, Va., June 4, 2025 /PRNewswire/ -- PowerHouse Data Centers takes a decisive step in its bold growth plan with the appointments of John Adametz as Senior Vice President, Development & Construction, and Vardahn Chaudhry as Senior Vice President, Asset Management. The two executives bring distinct yet aligned expertise across digital infrastructure investments, operations and development that bolsters PowerHouse's commitment to responsible growth and delivering tailored solutions for hyperscale demands. With a development pipeline spanning more than 24 million square feet and 6.1 GW across six U.S. markets, PowerHouse continues to invest in leadership that can drive both speed to power and construction of data centers for hyperscale users across its portfolio. Adametz and Chaudhry are a part of the PowerHouse team, with combined expertise adding to our industry leading This collaborative leadership structure reflects a deliberate strategy that supports PowerHouse's model of delivering shovel-ready campuses that are engineered for hyperscale growth and sustained operational value. 'John and Vardahn bring a deep understanding of what it takes to not just build, but operate world-class data center campuses at scale,' said Doug Fleit, Co-founder and CEO of PowerHouse Data Centers. 'They know how to manage complexity, execute with discipline and most importantly—deliver value to our clients. This kind of experience matters when you're in an industry as fast pace and demanding as build-to-suite hyperscale data centers.' A Leadership Model Built for Scale and Stability Adametz brings more than 30 years of global, hands-on experience leading complex infrastructure projects with speed and precision. At Meta, he demonstrated his expertise in managing large-scale developments by leading partner strategy for leased capacity and design execution on multi-gigawatt campuses. Additionally, Adametz's 32-year tenure in the U.S. Navy Civil Engineer Corps, where he led $8 billion annually in critical infrastructure planning, design, construction, and operations, highlights his ability to deliver high-impact projects in complex environments. At PowerHouse, Adametz will lead the daily development and construction operations. By focusing on scalable, resilient project delivery for Richmond-based projects as well as PowerHouse's broader portfolio, he will enhance the company's ability to meet the demands of hyperscale clients while ensuring long-term operational performance. Chaudhry's strong background in digital infrastructure investment and asset strategy positions PowerHouse to adapt and grow in a dynamic market. As Vice President of Investments at JBG SMITH, he managed an $85 million digital infrastructure and venture capital investment portfolio, including the establishment of a first-of-its-kind last-mile platform of fiber, data centers, small cell and spectrum assets—demonstrating his ability to develop new and flexible transaction structures, while executing strategic builds and acquisitions to drive long-term value. With earlier consulting experience at Accenture, he applies a data-driven, operational, and technical lens to meeting the evolving needs of hyperscalers. Chaudhry brings a unique perspective to PowerHouse, where he manages the entire lifecycle of the company's data center assets, from acquisition to implementation, working closely with partners and customers to deliver consistent, high-performing results. His strategic approach ensures PowerHouse not only meets current client needs but also stays ahead of emerging trends in cloud and AI infrastructure. A National Platform Backed by Expertise Together, Adametz and Chaudhry are key drivers of PowerHouse's commitment to building client-focused, sustainable and value-driven infrastructure solutions. Their combined skillset is instrumental to the company's innovation and competitive strategy. Both leaders will coordinate across regions and departments to ensure seamless execution and performance. Their partnership reflects PowerHouse's broader strategy: pair development precision with long-term asset value to deliver the kind of capacity hyperscalers rely on. Backed by AREP's oversubscribed $309 million Fund IV, PowerHouse is actively advancing large-scale, power-first campuses in Virginia, Kentucky and beyond—designed specifically for the AI and cloud workloads shaping tomorrow's infrastructure. About PowerHouse Data Centers PowerHouse Data Centers, fully owned and operated by American Real Estate Partners (AREP), is a pioneering developer and owner of next-generation data centers, providing sophisticated real estate solutions for hyperscalers that meet their market, data, utility, and space demands. Founded in 2021 with a primary focus on Northern Virginia, the world's largest data center market, PowerHouse has strategically expanded into key markets across the United States. Today, PowerHouse is an established leader in world-class data center development with 86 data centers underway or in planning, representing more than 24 million square feet and 6.1 GW in six major markets. PowerHouse owns its land sites, offering flexible next-generation data center models, with unparalleled speed-to-market. As disruptors setting new industry standards, PowerHouse leverages proven leadership, technical expertise, and strategic partnerships to drive innovation. Drawing from valuable real estate and industry relationships, PowerHouse adeptly identifies and transforms land sites, delivering state-of-the-art BTS, powered shell, and full turnkey deployments at scale. PowerHouse's full suite of development services integrates asset strategy, fast-track approvals, infrastructure, on-site power procurement, and sustainable building practices into every project. Visit our newsroom for more information, and follow us on LinkedIn, YouTube, and X. View original content to download multimedia: SOURCE PowerHouse Data Centers
Yahoo
28-05-2025
- Business
- Yahoo
Blue Owl, Chirisa Technology Parks and PowerHouse Data Centers Announce Next Phase of $5 Billion Joint Venture Development Partnership
CHESTERFIELD, Va., May 27, 2025 /PRNewswire/ -- Blue Owl Capital managed funds ("Blue Owl"), Chirisa Technology Parks ("CTP"), and PowerHouse Data Centers ("PowerHouse") today announced the closing of a $750 million transaction in their landmark joint venture development partnership. The partnership was launched in August 2024, with capacity to deploy up to $5 billion of capital for turnkey AI/HPC data center developments supporting CoreWeave and other hyperscale and enterprise data center customers. Construction under the program at CTP's 350-acre campus in Chesterfield, VA started in 2024 for an initial 120MW of new critical facilities, with delivery scheduled in 2025 and 2026. The new facilities are cornerstone developments in CoreWeave's rapidly scaling infrastructure footprint. CoreWeave is one of the fastest-growing cloud infrastructure providers for AI workloads. The CTP campus features cutting-edge design standards, purpose-built to support dense GPU clusters and other advanced computing technologies required for large-scale artificial intelligence customers. The campus integrates CTP's proprietary 'direct-on-chip' liquid cooling design, which is almost twice as energy efficient as traditional air-cooled systems. This innovative cooling solution reduces energy consumption and underpins environmentally responsible hyperscale data center operations. CTP and PowerHouse are committed to delivering high-performance infrastructure that aligns with sustainability goals. "This next stage of the partnership between Blue Owl, CTP and PowerHouse represents another groundbreaking transaction focused on rapidly delivering large scale capacity for the AI ecosystem" said Lee Hayes, President & CEO of CTP. Doug Fleit, CEO and Co-founder of PowerHouse, continued, "This closing underscores our partnership's continuum and commitment to building scalable, sustainable, and high-performance digital campuses that support the deployment of AI infrastructure." Located in Chesterfield, VA, the campus facility offers robust access to power, fiber, and a favorable regulatory environment. The project emphasizes sustainability and innovation, integrating advanced cooling systems, high-density compute design, and long-term power procurement strategies aligned with renewable energy goals. "This is another pivotal milestone in our $5 billion strategic partnership with CTP and PowerHouse," said Marc Zahr, Global Head of Real Assets at Blue Owl. "With the closing of this second $750 million tranche, we're delivering on our vision to create foundational infrastructure for the next generation of AI-native cloud companies like CoreWeave." The venture combines PowerHouse and CTP's deep expertise in development, construction and operations, and Blue Owl's financial strength. Together, the consortium is well- positioned to support hyperscale deployments with unmatched speed, efficiency, and scale. About Blue OwlBlue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $273 billion in assets under management as of March 31, 2025, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Assets. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation. Together with over 1,200 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit About Chirisa Technology ParksChirisa Technology Parks is focused on the rapid delivery of high performance, leading-edge facilities to support hyperscale, HPC and AI customers across North America and Europe. With over 25 years of experience in Digital Infrastructure, CTP and its predecessors have developed, owned, and operated over 40 data center assets focused on large scale enterprise and hyperscale deployments. CTP currently offers over 500,000 SF of purpose-built data center capacity, with a pipeline in excess of 1.6 GW under development in the USA. CTP's bespoke designs and rapid delivery process are focused on high-efficiency, leading-edge deployments. CTP has broad capability to partner and/ or operate critical facilities, offering a strong track record in build-to-suit hyperscale powered shells, HPC and AI-focused high-density deployments, turnkey data center solutions for Cloud customers, and bespoke edge deployments in major metropolitan areas. CTP is dedicated to delivering high technology campuses with a positive impact on the communities and environment in which it operates. About PowerHouse Data CentersPowerHouse Data Centers, fully owned and operated by American Real Estate Partners (AREP), is a pioneering developer and owner of next-generation data centers, providing sophisticated real estate solutions for hyperscalers that meet their market, data, utility, and space demands. Founded in 2021 with a primary focus on Northern Virginia, the world's largest data center market, PowerHouse has strategically expanded into key markets across the United States. Today, PowerHouse is an established leader in world-class data center development with 86 data centers underway or in planning, representing more than 24 million square feet and 6.1 GW in six major markets. PowerHouse owns its land sites, offering flexible next-generation data center models, with unparalleled speed-to-market. As disruptors setting new industry standards, PowerHouse leverages proven leadership, technical expertise, and strategic partnerships to drive innovation. Drawing from valuable real estate and industry relationships, PowerHouse adeptly identifies and transforms land sites, delivering state-of-the-art BTS, powered shell, and full turnkey deployments at scale. PowerHouse's full suite of development services integrates asset strategy, fast-track approvals, infrastructure, on-site power procurement, and sustainable building practices into every project. Visit our newsroom for more information, and follow us on LinkedIn, YouTube, and X. View original content to download multimedia: SOURCE Chirisa Piscataway Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
