HighBrook Raises $266M for NoVa Data Center Development

HighBrook Investors has closed its inaugural data center fund with $266 million in total commitments.

Dubbed HighBrook US DCF LP, the fund will be used for the development of three data center facilities in Fairfax County, Va. The sites have 300 megawatts of contracted utility power capacity.

Centra, the Virginia-based industrial and data center operating platform owned by HighBrook, will oversee construction. HighBrook is currently in discussions with prospective hyperscalers regarding build-to-suit initiatives.

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Monument Group acted as placement agent for the HighBrook US DCF LP. The closing of this fund also marks more than $2.5 billion of capital commitments across HighBrook’s other investment vehicles.

The development sites will be rezoned from infill industrial to data center development. The upcoming facilities will be within Northern Virginia’s primary data center corridor, with substation equipment already on order.

NoVa still a hot spot despite headwinds

Northern Virginia continues to be the largest data center hub globally. The recent development activity surge in order to meet rising capacity demands is straining power supply and infrastructure in the market, underscoring shifting industry fundamentals.

Coupled with AI-competitiveness and grid limitations, the sector is expanding outside traditional hubs like Northern Virginia and Silicon Valley. Across North America, more than 35 gigawatts of capacity are already under construction, while vacancy remained at a record-low for two consecutive years, as the majority of the industry’s pipeline is already preleased, according to a report by JLL.

Recent investor activity in the area includes Amazon Data Services’ $427 million acquisition of a 122-acre campus in Ashburn, Va.  George Washington University sold the land to the Amazon Web Services subsidiary, as the company has multiple ongoing investments in the state. The company is committing $35 billion through 2040 in Virginia, focusing on doubling its presence in the state.

In late 2025, CleanArc Data Centers entered the state by starting construction on a $3 billion project. The company’s first data center development is in Caroline County, Va., and represents the largest economic investment in the county’s history. When completed, this campus will include 900 megawatts of grid capacity, with the first 300 megawatts estimated to come online in early 2027.