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Cartis diligence evidence schedule

Digital Realty–Blackstone Hyperscale Development Program

PRJ-0348 · Program · Frankfurt; Paris; Northern Virginia

Record last updated Oct 28, 2026

Scope and capacity

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.

Headline: See constituent sites

Numbers refer to their stated physical boundaries and are not added together. Source dates, claim dates and record updates have different meanings. Missing dates and locators are not inferred.

Campus count · 4 campuses

Actual · Digital Realty–Blackstone Hyperscale Development Program (Project)

Claim 32138 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Digital Realty Trust 2024 Form 10-K

    U.S. Securities and Exchange Commission · Document date: Feb 14, 2025 · Corroborating

    Source reference: SRC-1805 · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1297996/000155837025001424/dlr-20241231x10k.htm

  2. Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture

    Blackstone · Document date: Dec 7, 2023 · Primary

    Source reference: SRC-1803 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.blackstone.com/news/press/digital-realty-and-blackstone-announce-7-billion-hyperscale-data-center-development-joint-venture/

Planned data center count · 10 data centers

Actual · Digital Realty–Blackstone Hyperscale Development Program (Project)

Claim 32139 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture

    Blackstone · Document date: Dec 7, 2023 · Primary

    Source reference: SRC-1803 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.blackstone.com/news/press/digital-realty-and-blackstone-announce-7-billion-hyperscale-data-center-development-joint-venture/

Potential IT load · 500 MW

Planned / design or future potential · Digital Realty–Blackstone Hyperscale Development Program (Project)

Claim 32140 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture

    Blackstone · Document date: Dec 7, 2023 · Primary

    Source reference: SRC-1803 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.blackstone.com/news/press/digital-realty-and-blackstone-announce-7-billion-hyperscale-data-center-development-joint-venture/

Estimated development cost · $7 billion

Actual · Digital Realty–Blackstone Hyperscale Development Program (Project)

Claim 32141 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture

    Blackstone · Document date: Dec 7, 2023 · Primary

    Source reference: SRC-1803 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.blackstone.com/news/press/digital-realty-and-blackstone-announce-7-billion-hyperscale-data-center-development-joint-venture/

Blackstone initial ownership · 80 percent

Actual · Digital Realty–Blackstone Hyperscale Development Program (Project)

Claim 32142 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Digital Realty Trust 2024 Form 10-K

    U.S. Securities and Exchange Commission · Document date: Feb 14, 2025 · Corroborating

    Source reference: SRC-1805 · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1297996/000155837025001424/dlr-20241231x10k.htm

  2. Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture

    Blackstone · Document date: Dec 7, 2023 · Primary

    Source reference: SRC-1803 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.blackstone.com/news/press/digital-realty-and-blackstone-announce-7-billion-hyperscale-data-center-development-joint-venture/

Digital realty initial ownership · 20 percent

Actual · Digital Realty–Blackstone Hyperscale Development Program (Project)

Claim 32143 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Digital Realty Trust 2024 Form 10-K

    U.S. Securities and Exchange Commission · Document date: Feb 14, 2025 · Corroborating

    Source reference: SRC-1805 · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1297996/000155837025001424/dlr-20241231x10k.htm

  2. Digital Realty and Blackstone Announce $7 Billion Hyperscale Data Center Development Joint Venture

    Blackstone · Document date: Dec 7, 2023 · Primary

    Source reference: SRC-1803 · Company announcement · Recorded authority: Party primary

    Source URL

    https://www.blackstone.com/news/press/digital-realty-and-blackstone-announce-7-billion-hyperscale-data-center-development-joint-venture/

Counterparties and capital

Blackstone · Investor · CMP-0661

Digital Carver Joint Venture Vehicles · Owner · CMP-0878

Digital Realty Trust · Developer, Operator · CMP-0711

Initial joint venture equity contribution

$700,000,000 · Jan 11, 2024

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

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

Sources (2)

Financing record 92; claim-specific source links appear in the exhibit sources where published.

Asset interest acquisition consideration

$3,500,000,000 · 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.

Blackstone (Other) · Digital Realty Trust (Other)

Sources (3)

Financing record 93; claim-specific source links appear in the exhibit sources where published.

This schedule captures public Cartis research. It is not a title, lien or legal-opinion report. Document page/section locators and claim review timestamps are included only when published; this version has no separate locator or claim-review-time feed.