Blue Owl and Chirisa Technology Parks Close $4 Billion Joint Venture Partnership Including Machine Investment Group for Lancaster Campus
Blue Owl and Chirisa Technology Parks Close $4 Billion Joint Venture Partnership Including Machine Investment Group for Lancaster Campus |
| [25-August-2025] |
Blue Owl Extends Development Partnership with Chirisa Technology Parks to $20 Billion to Support Over 1GW of Developments LANCASTER, Pa., Aug. 25, 2025 /PRNewswire/ -- Funds managed by Blue Owl Capital ("Blue Owl"), and affiliates of Chirisa Technology Parks ("CTP") and Machine Investment Group ("MIG") today closed on a joint venture partnership to include $4 billion of funding for the previously announced CoreWeave developments in Lancaster, Pennsylvania.
CoreWeave has invested in the campus and will lease the site as part of its commitment to building future-ready AI infrastructure hubs in the regions that need them most — across America's critical economic corridors, including the Mid-Atlantic, which this facility will serve. The Lancaster location will join CoreWeave's expanding global network of AI data centers. Blue Owl stated its intention to fund up to $20 billion of developments for CTP, extending the existing partnership between the two groups, which currently supports almost half a gigawatt of new developments underway in Virginia and Pennsylvania. Marc Zahr, Co-President and Global Head of Real Assets at Blue Owl said, "This expanded partnership with CoreWeave, Chirisa Technology Parks and Machine Investment Group marks a significant step forward in building the mission critical infrastructure that will power the future of AI innovation. At Blue Owl, we are focused on supporting high-conviction investments with visionary and creditworthy partners – this collaboration is well representative of this thesis. CoreWeave's cutting edge GPU as a service capability, combined with CTP's deep expertise in AI data center development make this a uniquely powerful alliance, all supported by Blue Owl's differentiated scale and structuring capabilities. Together, we are not just funding data centers, we are enabling the scalable, resilient, and secure digital backbone of the AI workloads that will underpin society and the economy well into the future." David Kelly, Managing Director North America at CTP, stated, "Our Lancaster development with Blue Owl and Machine Investment Group underscores our partnership's deep commitment to building sustainable, high-performance digital campuses while creating real opportunity for the communities where we operate. We believe that the deployment of AI infrastructure goes hand-in-hand with inclusive economic growth — bringing high-quality jobs, educational partnerships, and valuable opportunities for residents and families living in Pennsylvania to participate in the AI ecosystem." "We are delighted to work with CTP and Blue Owl on an adaptive redevelopment that aligns with our strategy to repurpose and reimagine underutilized commercial properties in attractive locations," said Eric Rosenthal, Managing Partner at Machine. "Pennsylvania's strategic location and robust infrastructure make it an ideal setting to deploy capital into attractive new data center developments." The new facilities under construction by CTP in Virginia and Pennsylvania are cornerstone developments in CoreWeave's rapidly scaling infrastructure footprint. CoreWeave is one of the fastest-growing cloud infrastructure providers for AI workloads. Newmark Group Inc. acted as an advisor for the Lancaster Joint Venture. About the CTP Lancaster Campus They are built on proprietary infrastructure, optimized for high-performance computing with nearly twice the energy efficiency of traditional data centers. The Lancaster campus will be sustainably designed and constructed to stringent federal and local environmental standards. Adaptive reuse of existing vacant industrial buildings will accelerate time to market and reduce the carbon footprint of construction. Closed loop cooling systems operate with minimal use of municipal water and no added chemicals. Low noise, magnetic levitation-based chiller systems for building cooling are specially designed for use in urban areas and significantly reduce noise while ensuring energy efficiency. In addition, emergency backup generators are enclosed to reduce noise and fitted with Selective Catalytic Reduction systems to achieve up to 99.8% reduction of NOx emissions. The parties also intend to fund approximately $200 million for local power grid infrastructure improvements in partnership with PPL Electric Utilities. This investment is targeted at delivering a safer, more efficient and resilient electric grid in the Lancaster region. CTP and its partners are dedicated to delivering high technology campuses with a positive impact on the communities and environment in which we operate. We welcome enquiries and questions at lancaster@ctp-dc.com. About Blue Owl: About CTP: About Machine Investment Group:
SOURCE Chirisa Piscataway Inc. | ||
Company Codes: NYSE:OWL |
View original content to download multimedia:
