I know Newmark has closed some sizable data center financings, but how active are other firms like W&D, JLL and CBRE in competing for (and winning) debt placement assignments in the sector? CBRE reported an 80% jump in data center earnings but I’m assuming most of this is not capital markets related.
Given the scale of these projects and their overlap with infrastructure and corporate finance, I’d imagine a $1 billion-plus financing would put you up against investment banks with huge lending and syndication capabilities. Where do CRE debt brokers fit in that process, and how are they getting those mandates?
Curious whether there’s a meaningful opportunity for a CRE debt broker to specialize in this vertical, or whether most of the business flows through investment banks. Any firsthand perspective on deal flow, fees or barriers to entry would be appreciated.
