This paper is focused on the modeling of a brazed plate heat exchanger (BPHE) for a novel in-rack cooling loop coupled with heat recovery capability for enhanced thermal management of datacenters. In the proposed technology, the BPHE is acting as a condenser, and the model presented in this study can be applied in either the cooling loop or vapor recompression loop. Thus, the primary fluid enters as either superheated (in the vapor recompression loop) or saturated vapor (in the cooling loop), while the secondary fluid enters as a sub-cooled liquid. The model augments an existing technique from the open literature and is applied to condensation of a low-pressure refrigerant R245fa. The model assumes a two-fluid heat exchanger with R245fa and water as the primary and secondary fluids, respectively, flowing in counterflow configuration; however, the model can also handle parallel flow configuration. The 2-D model divides the heat exchanger geometry into a discrete number of slices to analyze heat transfer and pressure drops (including static, momentum and frictional losses) of both fluids, which are used to predict the exit temperature and pressure of both fluids. The model predicts the exchanger duty based on the local energy balance. The predicted values of fluid output properties (secondary fluid temperature and pressure, and primary fluid vapor quality and pressure) along with heat exchanger duty show good agreement when compared against a commercial software.