Digital Realty is acquiring Blackstone‘s blended 64 percent equity interest in three fully leased hyperscale data centers in Northern Virginia at a gross asset value of $7.8 billion.
Blackstone (NYSE: BX) will receive $3.5 billion for its interest, consisting of $1.2 billion in cash and $2.3 billion in Digital Realty (NYSE: DLR) shares. Through the acquisition, Digital Realty will purchase Blackstone’s 80 percent interest in two 96-megawatt facilities in Manassas, Va., and its 50 percent interest in a 96-megawatt facility in Sterling, Va., increasing its ownership of assets developed through the partners’ joint venture.
The portfolio comprises three data centers totaling 288 megawatts of IT capacity, with two facilities located in Manassas and one on Digital Realty’s Digital Dulles campus in Sterling, Va.