Blackstone invests $700M for 80% stake in Digital Realty JV for 500MW data centers

DIGITAL REALTY TRUST, INC.

Blackstone initial capital ~$700M for 80% ownership; Digital Realty retains 20% and manages development.
Four hyperscale campuses in Frankfurt, Paris, and Northern Virginia; total estimated cost ~$7B.
10 data centers with 500 MW potential IT load; 46 MW under construction, 33% pre-leased.
JV expected to close in first half 2024 in two stages, subject to regulatory approvals.
Blackstone gets right of first offer for additional Northern Virginia development and rights in Paris/Frankfurt.

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