Kirkland Advises Blue Owl, Cedar and PowerHouse JV on $1.12 Billion Notes Offering
Kirkland & Ellis advised DDC 01 Propco LLC, a subsidiary of a joint venture between affiliates of Blue Owl Capital Inc., Cedarwood Investment Group LP and PowerHouse Data Centers LLC, on its Rule 144A/Regulation S offering of $1.12 billion aggregate principal amount of 8.875% senior secured notes due 2031, issued on September 30, 2026. The proceeds will be used to fund a portion of the development of a 76-MW critical IT data center located in Chesterfield County, Virginia, which is fully leased under a long-term triple-net lease.
The Kirkland team included capital markets lawyers Julian Seiguer, Ieuan List, Erin Meziere, Aparna Bhattacharya, Courtney Lewis, Hannah Miller and Akash Kurupassery; real estate lawyers David Rosenberg, Kim McGrath, David Stanek, Matthew Linsky, Brandon Moore, David Arbus, Kate Plonsker, Michael Coleman, Connor Paulshock and Tate Whitten; debt finance lawyers Mary Kogut, Kaitlin Schock, Erik Hepler, Shana Hamilton, Katie Schneller and Hope Rovner; and tax lawyers Mike Beinus, Justin Barbosa and Jake Jung.
