Certain funds and accounts managed by Cerberus Capital Management, L.P. and its affiliates (“Cerberus”), a global alternative investment advisor, and Yondr Group, a global developer, owner and operator of hyperscale data centers, today announced the acquisition of a 40-acre site to build a 72 MW data center campus in Manassas, Virginia, which is expected to become operational in 2029.
The project will help meet sustained demand from hyperscale customers for well-located capacity that can serve a diverse set of use-cases including cloud, enterprise and artificial intelligence applications. Northern Virginia is the largest and most established data center market in the world, with significant hyperscale and cloud presence, deep fiber connectivity and unparalleled proximity to global hubs in the Northeastern United States.
“We are pleased to partner with Yondr to deliver a high-quality project in Northern Virginia that is well-positioned to support hyperscale demand,” said Tom Wagner, Senior Managing Director and Head of North American Real Estate at Cerberus. “With near-term power availability in a historically constrained market and a 2029 ready-for-service date, this project will be well-positioned to support continued customer demand while creating long-term value for our partners and investors. We look forward to advancing this project alongside Yondr and to identifying compelling opportunities to invest in high-quality real assets supported by the strong fundamentals in the digital economy.”
Aaron Wangenheim, CEO of Yondr Group, added: “We continue to see strong demand for well-located capacity across our global portfolio including Northern Virginia, and this acquisition marks another important step in growing our North American footprint. Bringing a project of this scale online in a market like Northern Virginia takes deep operational expertise and strategic capital, and our partnership with Cerberus brings both together to deliver the capacity hyperscale customers increasingly need.”
