"Digital Realty and Blackstone Form $7 Billion Data Center Development Partnership"

Digital Realty and Blackstone have announced a joint venture to develop four hyperscale data center campuses across three metro areas in Europe and North America. The joint venture is expected to deliver approximately 500 megawatts of IT capacity and has an estimated development cost of $7 billion. Blackstone will acquire an 80% ownership interest in the joint venture for $700 million, while Digital Realty will maintain a 20% interest. The joint venture is scheduled to close in the first half of 2024, subject to regulatory approvals.