Located on the Texas A&M University System's RELLIS Campus, development began with a ground lease in June 2020. Construction started in 2024, and the developer filed for Chapter 11 in November 2025. Marathon Capital ran a targeted auction process for the debtor and led negotiations to assign the ground lease, tax abatement agreements, power agreements and other key project documents, preserving the site's development rights for the next owner.

As publicly reported, ThisWay Global and capital partners including Centaurus Capital and Skylar Capital Management funded the acquisition. ThisWay Global plans to redevelop the site as a phased, liquid-cooled 73 MW Research and AI Compute Center for high-density AI and HPC workloads.

"Distressed situations like RELLIS require an advisor who can work across the key agreements, capital structure, and the asset at the same time," said Gerry Willinger, Managing Director & Co-Head of Data Center Solutions at Marathon Capital. "We ran a competitive process on a court timeline while keeping the land, power, and incentives intact. The result shows that well-designed digital infrastructure retains its value, even when the original development falters."

Marathon Capital's Data Center Solutions practice advises data center developers, owners and investors on energy sourcing, tenant solicitations, M&A, joint ventures and debt and equity capital raises, and brings that same expertise to restructuring stalled and capital-constrained projects.