Digital Realty Acquires Blackstone's Stake in 3 Data Centers for ~$3.6 Billion

Digital Realty Trust (DLR) has agreed to acquire Blackstone's blended 64% interest in two joint ventures developing three hyperscale data centers in Northern Virginia. The transaction will result in DLR wholly owning the assets. The purchase is expected to be completed on June 30, 2026, subject to customary closing conditions.

Key Details

• Transaction Value: The total consideration paid to Blackstone is approximately $3.6 billion, consisting of $1.231 billion in cash and ~$2.35 billion in DLR non-voting common stock.
• Assets Acquired: The deal covers three 100% leased data centers under development, totaling 288 MW of IT capacity. The transaction implies a gross asset value of $7.8 billion and is expected to have an initial stabilized capitalization rate of over 6.5%.
• Financial Impact: The acquisition is expected to be leverage neutral and accretive to Core Funds from Operations (Core FFO) per share in 2027 and 2028 as the facilities are completed and stabilized.