TPG Real Estate and Quantum Loophole, Inc. have resolved their dispute over management and development of the 2,100-acre data center campus and fiber-optic loop (QLoop) in Frederick County, Maryland known as the Quantum Frederick Project.
The resolution confirms TPG as the Manager of the Project. As Manager, TPG Real Estate has reaffirmed Catellus Development Corporation’s role as the Developer of the Project. Catellus will serve as sole Developer going forward, overseeing all aspects of the Project’s day-to-day management and execution. Quantum Loophole will no longer have any active involvement in managing or developing the Project. TPG and Quantum Loophole have also agreed to dismiss all litigation between them.
This resolution allows TPG and Catellus—which has been on the ground in Maryland for the past six months—to further engage stakeholders, hear and address their concerns, and move the Project forward in a way that best serves the Frederick community.
TPG and Catellus remain confident in the Project and look forward to working together to deliver best-in-class, environmentally sound data center capabilities to Maryland. TPG and Catellus remain optimistic that the Project will drive billions of dollars of economic growth and create tens of thousands of jobs for Frederick County.
TPG and Catellus will share more updates on the Project in the months to come.