Blackstone, Digital Realty join hands to develop $7-billion data centers

US investment giant Blackstone and data centre firm Digital Realty will create a joint venture that will spend $7 billion on developing data centers, the companies said on Thursday.

The companies said the venture plans to develop 10 data centres across four campuses in Frankfurt, Paris and northern Virginia.

Demand for data centres has remained resilient even in an uncertain economy as more businesses move to the cloud.


Blackstone will acquire an 80% ownership interest in the joint venture for about $700 million of initial capital contributions, while Digital Realty will maintain a 20% interest.

The joint venture is scheduled to close in two stages over the course of the first half of 2024.