Digital Realty Pays $3.5B for Blackstone Data Center Stakes
The deal reflects the operator’s strategy to scale its footprint amid surging AI-driven demand for data center infrastructure, while potentially signaling Blackstone’s shift toward higher-return investments.
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Digital Realty has agreed to purchase full ownership of three data centers in Northern Virginia that were previously held as a joint venture with Blackstone-managed funds for $3.5 billion in cash and stock. The acquisition gives Digital Realty 100% control of facilities totaling 288 MW of IT capacity that are fully leased to investment-grade hyperscale customers under long-term contracts. This transaction represents a common capital allocation strategy for large data center operators to gain greater control over high-quality assets, while the deal reflects strong demand for AI-ready data center infrastructure.
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