Jul 01, 2026 | Posted by Abdul-Rahman Oladimeji
Digital Realty is acquiring a stake in three Northern Virginia data centers from Blackstone. The deal covers 288MW of fully leased capacity across two sites in Manassas and one at the Digital Dulles campus in Sterling, all 100% leased to hyperscale customers. Blackstone is selling a 64% interest for $3.5 billion, including $1.2 billion in cash and $2.3 billion in Digital Realty shares, with completion expected this week.
“We have developed a strong partnership with Blackstone through the successful ongoing development of these assets, and we continue to work together across the remaining data center investments in our joint ventures in Northern Virginia, Paris and Frankfurt,” said Greg Wright, chief investment officer of Digital Realty. “This transaction reflects the next phase of that relationship, allowing us to increase our ownership in a portfolio of fully leased, high quality hyperscale assets that extend our runway for growth and pipeline of product for the continued expansion of our strategic private capital platform.”
Digital Realty has agreed to purchase Blackstone’s stakes in three Northern Virginia data centers through the Digital Carver Dulles 9 and Digital Carver Brickyard joint ventures. The assets include two 96MW facilities in Manassas and a 50% stake in a 96MW site in Sterling. Two of the data centers are expected to stabilize in the first half of 2027, with the third following in early 2028. The sites are backed by 15-year leases with an average AA- customer credit rating and 3.6% annual rent escalators.
Mike Forman, global head of digital infrastructure for Blackstone Real Estate and Greg Blank, global head of digital infrastructure for Blackstone Infrastructure, added: “We are thrilled with this transaction and the early success of our joint venture with Digital Realty. The Digital Realty team has been exceptional to work with, and we look forward to our continued partnership. The demand for digital infrastructure is even stronger today than when we established this joint venture in 2023, and we have deep conviction in the opportunity ahead.”
