Blue Owl Backs $975 Million Recapitalization of Northern Virginia Data Center
The loan signals rising institutional demand for stabilized, leased hyperscale facilities in Northern Virginia’s concentrated power and fiber network.
Overview
- A joint venture between Corscale Data Centers and Affinius Capital secured a $975 million recapitalization loan from Blue Owl Capital for Project Helios, with Newmark arranging the deal, announced June 9, 2026.
- Project Helios is a newly completed, fully leased data center leased on a long-term agreement to an unnamed, investment-grade cloud service provider and is reported to have about 72 megawatts of capacity.
- The facility is one phase of the Gainesville Crossing Data Center Campus, a five-building, 130-acre development near Interstate 66 in Gainesville, Virginia, roughly 20 miles southwest of Ashburn in the Data Center Alley region.
- Affinius and Corscale declined to comment to reporters and Newmark said the transaction reflects institutional lenders’ interest in digital infrastructure in markets with reliable electric power and dense connectivity.
- The deal highlights a growing trend of large institutional capital and credit flowing into stabilized hyperscale assets, which could free sponsors to repay construction debt and prompt more similar financings in Northern Virginia.