BREAKOUT SESSION: The Data Center Boom
The growth in AI and demand for processing have pushed data centers to the front of the line for many CRE investors and lenders. But data centers have a number of characteristics that make them distinct from other forms of commercial real estate, including the importance of power supply, the speed with which the technology is changing, and the sheer size of many deals. Panelists share their insight on this sector, including the opportunities and challenges in getting data center deals done.
Speakers
Moderator
Dave Link is an executive vice president and regional managing director. He joined Northmarq in 2003 and has been the managing director of the Denver office of Northmarq since 2014. Active in Colorado real estate since 1997, Dave specializes in debt and equity for multifamily, office, retail, industrial and other specialized product types. Dave serves on Northmarq’s Executive Council, contributing to strategic planning efforts and helping guide the firm’s long-term business priorities. He also serves on Northmarq’s Production Management Committee and is a repeat member of the Producer’s Council, which recognizes the company’s top annual producers. Since joining Northmarq in 2003, Dave has closed debt and equity transactions with a total capitalized value in excess of $10 billion. Dave received his undergraduate degree in accounting from the University of Wisconsin-Madison and obtained his graduate degree in real estate from the University of Denver. He completed the Future Leaders program for the Mortgage Bankers Association and is a licensed real estate broker in Colorado. Dave remains active in multiple Colorado real estate organizations. He was named a 2025 Rainmaker in CRE, Debt, Equity and Finance by GlobeSt. as well as 201 and 8 Rainmaker in CRE by Real Estate Forum.
Speakers
As head of research, Brian is responsible for providing thought leadership and monitoring emerging economic, commercial real estate (CRE) and finance trends at Trimont. He is responsible for providing clarity in today’s uncertain climate and creating analytics that provide insights into lending and property trends. Prior to Trimont, Brian was the Commercial Real Estate Subject Matter Expert and Senior Policy Advisor at the Federal Reserve Bank of Atlanta. His work informed three Federal Reserve chairs, five central banks, and the International Monetary Fund. He briefed Chair Jerome Powell, the Board of Governors and multiple policymakers on CRE and finance trends. Additionally, he addressed audiences of 25-30,000 at hundreds of venues including Federal Agencies, universities, industry conferences and syndicated radio.
Andrew Kaskel is a senior managing director of Capital Markets and Head of Data Centers Advisory at Walker and Dunlop, based in New York City. In his role, he will partner with Walker and Dunlop's Institutional Capital Markets team across the country to finance the development and ownership of data centers and other digital infrastructures. Throughout his career, Mr. Kaskel has successfully completed more than 50 data center financings totaling over $15 billion in total transaction value. Prior to joining Walker and Dunlop, Mr. Kaskel served as a managing director at DH Capital, which was acquired by Citizens Bank. There, he was responsible for advising digital infrastructure companies and investors. Mr. Kaskel earned his bachelor’s degree in business administration from Iona University.
Tim Stoner is the Senior Managing Director and Head of Capital Markets for Affinius Capital and is responsible for all of the firm’s commercial real estate finance activities for the investment portfolio, and he is a member of the firm’s Investment Committee. His team's primary area of focus includes sourcing third party debt for the company’s acquisition and development transactions. Additionally, he has the role of Chief Operating Officer of the company’s credit program. Since joining Affinius Capital, Tim has completed over $50 billion of transactions. Tim received his Bachelor of Business Administration in Real Estate and Entrepreneurship from Baylor University and his Master of Land Economics and Real Estate from Texas A and M University. He has been a featured panelist at numerous real estate capital markets events nationally and internationally, and he has lectured graduate level students at various universities regarding commercial real estate investments and finance. Tim serves as the Chair of the Board of Directors of the Life Mortgage and Real Estate Officers Council and also serves on the Commercial Board of Governors for the Mortgage Bankers Association. Tim was also the past Chair of the Commercial Real Estate Finance Council’s Life Company Lender Sub-Forum.

