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Capital & PolicyFunding|June 30, 2026, 03:51 PM
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Digital Realty Takes $3.5 Billion Virginia Data Center Stake With 2028 Stabilization Ahead

BySendTech Times Capital & Policy DeskNewsroom-edited, source-reviewed coverage|Source: CNBC
Newsroom brief

Digital Realty is buying stakes in three Northern Virginia data centers from Blackstone for $3.5 billion, adding leased hyperscale capacity while two sites are not expected to stabilize until 2027 and the third until 2028.

Verified against source materialEdited by SendTech Times Capital & Policy Desk
Digital Realty Takes $3.5 Billion Virginia Data Center Stake With 2028 Stabilization Ahead
Image source: Lexi Critchett / Bloomberg via Getty Images / CNBC

Digital Realty Adds Virginia Capacity Through Blackstone Deal

Digital Realty is taking a larger position in Northern Virginia data centers through a $3.5 billion transaction with Blackstone.

The consideration is split between $1.2 billion of cash and $2.3 billion of stock, with the three-center portfolio valued at $7.8 billion.

Digital Realty is buying an 80% Blackstone stake in a pair of Manassas facilities, each listed as 96-megawatt assets, plus a 50% stake in a 96-megawatt Sterling facility.

The transaction was expected to close on Tuesday.

Stabilization Targets Extend To 2028

The assets still have staged operating milestones ahead.

Two of the data centers carry a first-half 2027 stabilization target, while the Sterling asset is expected to reach that point in the first half of 2028.

Digital Realty chief investment officer Greg Wright said the transaction increases the company’s ownership in fully leased hyperscale assets and extends its growth pipeline.

Digital Realty shares were down 5.4% before the market opened, while the stock remained up 23% for the year to date.

Virginia Demand Carries A Financing Constraint

The transaction adds capacity in a market that Digital Realty is trying to expand in and that the article identifies as the world’s largest data center market.

A February JLL report said Texas was close to challenging Virginia’s lead in data centers.

JLL also said 92% of data center capacity under construction in North America is already pre-committed, a figure that points to limited vacancy through 2030.

The same article tied the demand backdrop to Amazon, Microsoft, Meta and Google, which have committed close to $700 billion in capex this year for AI infrastructure buildout.

Private Capital Remains Part Of The Buildout

The deal shows how data center operators are using large capital transactions to keep capacity pipelines moving as hyperscale demand absorbs available supply.

The article also said big technology companies are increasingly relying on private equity, private credit and debt, with data center financing deals consistently above $10 billion last year, according to Preqin.

Digital Realty has not disclosed tenant names for the three assets, customer-level contract terms, power-procurement details or the final operating metrics that will confirm stabilization at the Manassas and Sterling data centers.

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