Yondr Group and funds managed by Cerberus Capital Management have jointly acquired a 40-acre site in Manassas, Virginia, with plans to develop a 72-megawatt hyperscale data center campus expected to become operational in 2029.

The announcement, made on August 3, 2026, marks another expansion of Yondr's presence in Northern Virginia, a market the company has been active in since breaking ground on its first local campus in October 2022.

Site Acquisition and Development Plans

The 40-acre parcel in Manassas will serve as the foundation for a data center campus designed to meet demand from hyperscale customers across a range of workloads, including cloud computing, enterprise applications, and artificial intelligence.

According to the announcement, the project carries a 2029 ready-for-service date, and Cerberus cited near-term power availability as a notable feature of the site given the historically constrained nature of the Northern Virginia power market.

Yondr and Cerberus did not disclose the financial terms of the acquisition. The project is being developed in partnership with certain funds and accounts managed by Cerberus Capital Management, L.P. and its affiliates.

Northern Virginia Market Context

Northern Virginia is described by Yondr as the largest and most established data center market in the world, characterized by significant hyperscale and cloud presence, deep fiber connectivity, and proximity to global hubs in the northeastern United States.

The region has long attracted concentrated investment from major technology and cloud operators, making land and power availability increasingly competitive. Yondr has maintained a sustained presence in the market.

The company energized its first Northern Virginia data center campus in December 2023, approximately one year after breaking ground, and broke ground on a second hyperscale facility in the region in February 2024.

Recently, Yondr Group and JK Land Holdings priced USD 715 million in senior secured notes to fund the Loudoun County Data Center.

The Manassas acquisition represents a continued build-out of the company's North American footprint.

Executive Commentary

Aaron Wangenheim, CEO of Yondr, said the acquisition reflects ongoing demand for well-located capacity across the company's global portfolio.

"Bringing a project of this scale online in a market like Northern Virginia takes deep operational expertise and strategic, sophisticated capital, and our partnership with Cerberus brings both together to deliver the capacity hyperscale customers increasingly need," Wangenheim said.

Tom Wagner, Senior Managing Director and Head of North American Real Estate at Cerberus, said the firm is focused on the long-term value potential of the project.

"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," Wagner said.

He added that Cerberus intends to look for additional opportunities to invest in high-quality real assets supported by the fundamentals of the digital economy.

About the Partners

Yondr Group describes itself as a global developer, owner, and operator of hyperscale data centers, with a focus on campuses purpose-built for scale and engineered to support cloud and AI workloads.

The company's stated mission is to develop and operate hyperscale data centers ready for tomorrow. Cerberus Capital Management, founded in 1992, is an alternative investment firm with approximately USD 72 billion in assets under management.

The firm operates across complementary credit, private equity, and real estate strategies, investing across the capital structure in situations where it believes its integrated investment platforms and proprietary operating capabilities can improve performance and drive long-term value.