Virginia: Chirisa obtains a $200 million loan to outfit a CoreWeave data facility in Virginia

Sep 25, 2023 | Posted by Abdul-Rahman Oladimeji

Chirisa Investments has secured financing for constructing a data center in Chester, Virginia. According to Commercial Observer, Chirisa received $200 million in construction funding to build CoreWeave's 242,000-square-foot turnkey data center. CO's sources revealed that an undisclosed Brookfield infrastructure fund granted the loan, with CBRE negotiating.

With a 12-year lease with two 5-year extensions, CoreWeave offers 27MW and is part of Chirisa's 88-acre complex at 1401 Meadowville Technology Parkway in Chesterfield County outside Richmond. The business announced that it has day-one availability of 18,270 sq ft and 4.1MW of capacity in a single data hall, with a 200,000 sq ft shell core extension area supporting up to 25MW available to deliver.

Chirisa believes Brookfield financing will aid in completing the CoreWeave tenant fit-out after shell and core projects. The following data halls will open in October, January, and April 2024. Upon completion, the complex could support 500,000 sq ft and 100MW.

Established in 2017, CoreWeave focuses on crypto and blockchain applications. The specialized cloud service converted from crypto mining before the generative AI boom and raised billions in investment and debt this year. Microsoft, which hosts OpenAI, signed a multi-billion dollar arrangement with CoreWeave to use its cloud service for specific workloads due to the GPU shortage.