Comstock Launches AI Data Center Platform Through Two Major Partnerships
Comstock Holding Companies, Inc. has launched its new Data Center Platform (DCP) through two key partnerships. The company, which specialises in large-scale developments, will work with Jericho Energy Ventures in Oklahoma and an affiliate of Comstock Partners in the Mid-Atlantic region. Both projects aim to expand data centre infrastructure for AI and high-power computing needs.
The first partnership involves Jericho Energy Ventures, a firm focused on assembling land for AI data centre campuses. Comstock invested $1.5 million in Jericho, receiving 25,684,932 shares and warrants for an additional 12,842,466 shares. As part of the deal, Christopher Clemente, Comstock's Chairman and CEO, joined Jericho's board of directors.
The second partnership is in the Mid-Atlantic region with an affiliate of Comstock Partners. This site could eventually deliver up to 900 megawatts of power at full build-out. Comstock will earn monthly asset management fees and potential incentive fees upon sale, without needing to contribute additional capital. Founded in 1985, Comstock specialises in mixed-use and transit-oriented developments, particularly in the Washington, D.C. area. Its managed portfolio includes around 10 million square feet at full build-out. The company has confirmed it will not pursue further large data centre campus projects beyond these two sites in the near future.
The two partnerships mark Comstock's entry into the data centre market. The Oklahoma and Mid-Atlantic projects will expand its portfolio without requiring new capital investment. The company will instead generate revenue through management fees and potential future sales.
