Yondr Group, a hyperscale data center developer, and JK Land Holdings, a Sterling-based real estate company, have priced USD 715 million in senior secured notes through their joint venture to finance the construction of a large-scale data center facility in Loudoun County, Virginia.

The Joint Venture and the Offering

The notes were priced on June 24, 2026, through the joint venture entity Yondr JK 1, LLC, which serves as the issuer. The USD 715 million aggregate principal amount of notes carries an interest rate of 6.875% per annum and is due in 2031.

Interest will be paid semi-annually in cash in arrears on June 30 and December 30 of each year, with the first payment scheduled for December 30, 2026. The notes will mature on June 30, 2031, and will also be subject to amortisation payable semi-annually commencing after the final commencement date, as described in the offering memorandum.

The notes are being sold in a private offering to persons reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933, as well as to non-U.S. persons outside the United States pursuant to Regulation S under the same act.

The issuer expects the notes to be delivered via the Depository Trust Company on or about June 30, 2026, subject to customary conditions precedent.

Use of Proceeds

The issuer has outlined three intended uses for the proceeds.

The primary use is to finance a portion of the construction of a turnkey data center that will feature 48 megawatts of critical IT capacity.

That facility is to be built on an approximately 14.3-acre property located in Loudoun County, Virginia. Additional proceeds will be used to fund debt service reserves and to cover fees and expenses associated with the notes offering itself.

Security Structure

The notes will be secured by first-priority liens on substantially all assets of the issuer, with the exception of certain excluded property.

The security package also includes all equity interests of the issuer held by Yondr JK 1 HoldCo, LLC, a Delaware limited liability company that will serve as the direct parent of the issuer following the issuance of the notes.

The Companies Behind the Deal

Yondr Group describes itself as a leading developer, owner, and operator of hyperscale data centers, with a focus on delivering and operating dedicated infrastructure engineered for scale.

JK Land Holdings operates as a Sterling-based real estate company that pursues land acquisitions for purposes including sale, lease, development, conservation easement placement, or utilisation by its sister companies, JK Moving Services and CapRelo.

JK Land Holdings has a notable conservation record alongside its commercial real estate activities. Over the past decade, the company says it has redeployed more than 22,000 acres of its land purchases into conservation easements, a ratio it characterises as 44 acres saved for every one acre developed commercially.

Regulatory and Compliance Context

The notes have not been registered under the Securities Act or the securities laws of any other jurisdiction.

As a result, they may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

The press release issued by the companies states explicitly that it does not constitute an offer to sell or a solicitation of an offer to buy the notes, and that any such offer, solicitation, or sale would be unlawful in jurisdictions where it would conflict with applicable securities laws prior to registration or qualification.

Loudoun County as a Data Center Hub

The choice of Loudoun County, Virginia, for the project is consistent with the region's established position as one of the world's most concentrated data center markets.

The county, which sits in the northern Virginia corridor, sometimes referred to as Data Center Alley, has attracted significant investment from hyperscale and colocation operators over many years.

The Yondr and JK Land Holdings joint venture facility, at 48 megawatts of critical IT capacity across a 14.3-acre site, is positioned within that established infrastructure landscape.

Timing and Next Steps

The closing of the offering remains subject to customary conditions precedent, and the companies acknowledged that there can be no assurance as to whether or when those conditions will be satisfied.

Pending satisfaction of those conditions, the issuer expects the notes to settle through DTC on or around June 30, 2026, six days after the pricing announcement was made.