Digital Realty–Blackstone Hyperscale Development Program

Frankfurt; Paris; Northern Virginia · Country under reviewStatus under reviewProgram

Headline capacity: See constituent sites
Updated: Oct 28, 2026

The four-campus, ten-data center development portfolio announced in 2023; portfolio totals. Digital Realty–Blackstone Hyperscale Development Program is located in Frankfurt; Paris; Northern Virginia and is a program in construction status.

Constituent sites / phases

Digital Carver Brickyard Campus · Data center campus Digital Carver Dulles 9 Campus · Data center campus Digital Carver Fechenheim Campus · Data center campus Digital Carver Les Ulis Campus · Data center campus

Capacity

Potential IT load

Planned / design or future potential

500 MW

Source

Operating IT capacity: Not established in published records

A missing figure does not mean zero. Planned, utility and generation figures are not operating IT capacity.

Development

Milestones (5)

Digital Realty and Blackstone announce the development venture

Dec 7, 2023 · Recorded actual event

Completed · Announced

Source not linked

Initial JV formed

Jan 11, 2024 · Recorded actual event

Completed · Event type not stated

Source not linked

Digital Realty agrees to buy Blackstone interests in three Virginia facilities

Jun 29, 2026 · Recorded actual event

Completed · Event type not stated

Source not linked

Two of three acquired facilities expected to stabilize by H1 2027; facility mapping undisclosed

2027 · Forecast / planned record

Forecast · Event type not stated

Source not linked

One of three acquired facilities expected to stabilize by H1 2028; facility mapping undisclosed

2028 · Forecast / planned record

Forecast · Event type not stated

Source not linked

Participants

Blackstone

Investor

Sources by role

Investor (1)

Digital Realty Trust 2024 Form 10-K · Feb 14, 2025 · Corroborating

Investor (1)

Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture · Dec 7, 2023 · Primary

Digital Carver Joint Venture Vehicles

Owner

Sources by role

Owner (1)

Digital Realty Trust 2024 Form 10-K · Feb 14, 2025 · Primary

Owner (1)

Digital Realty Trust 2024 Form 10-K Exhibit 21.1 · Feb 14, 2025 · Corroborating

Digital Realty Trust

Developer · Operator

Sources by role

Developer / Operator (1)

Digital Realty Announces Purchase of Blackstone Interest in Three Northern Virginia Data Centers · Jun 29, 2026 · Corroborating

Developer / Operator (1)

Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture · Dec 7, 2023 · Primary

Capital & incentives

Capital claims and financing records may overlap. Their amounts are not added together.

Capital claims

Estimated development cost

Actual

$7 billion

Source

Financing records

Initial joint venture equity contribution

$700m

Jan 11, 2024

Approximate initial Blackstone contribution for an 80 percent interest; remaining development costs funded pro rata.

Parties & sources

Blackstone (Initial 80 percent equity investor) · Digital Realty Trust (Initial 20 percent equity investor and manager)

Sources (2)

Digital Realty Trust 2024 Form 10-K · Feb 14, 2025
Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture · Dec 7, 2023

Asset interest acquisition consideration

$3.5bn

Jun 30, 2026

Digital Realty consideration for Blackstone interests in three Northern Virginia facilities: approximately USD1.231 billion cash plus shares; gross value USD7.8 billion including debt and remaining capex.

Parties & sources

Blackstone (Other) · Digital Realty Trust (Other)

Sources (3)