Digital Realty Completes $3.58B Blackstone Acquisition; Blackstone Sells $2.28B in Shares at Premium
DLR sits 21% above its 52-week low of $146.23 on elevated volume (3.9× avg).
Summary
Digital Realty finalized its $3.58 billion acquisition of data center joint ventures from Blackstone, while Blackstone completed a $2.28 billion secondary offering of DLR shares at a premium to the current market price.
Key Events · M&A and Partnerships · DLR
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Acquisition of Data Center JVs Completed
Digital Realty completed the acquisition of Blackstone's interests in the Digital Carver Dulles 9 and Digital Carver Brickyard joint ventures for $3.58 billion on June 30, 2026.
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Major Secondary Offering by Blackstone
Blackstone affiliates completed an underwritten public offering on July 1, 2026, selling 12,310,249 shares of Digital Realty common stock for approximately $2.28 billion. Digital Realty did not receive any proceeds from this sale.
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Offering Priced at a Premium
The secondary offering was priced at $185.00 per share, which is above the current market price of $176.315, suggesting strong investor confidence in the valuation.
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Non-Voting Common Stock Established
Digital Realty filed Articles Supplementary to classify 12.31 million shares as non-voting common stock, which automatically converts to voting common stock upon transfer by the initial holder (Blackstone) to non-affiliates. This facilitated the secondary offering.
Analysis · DLR · Real Estate & Construction
This 8-K confirms the completion of Digital Realty's previously announced acquisition of Blackstone's interests in two data center joint ventures for $3.58 billion. Concurrently, Blackstone affiliates completed a secondary offering, selling 12.31 million shares of Digital Realty common stock for approximately $2.28 billion. The offering was priced at $185.00 per share, which is a premium to the current market price, indicating strong institutional demand. Digital Realty did not receive any proceeds from this secondary sale. The company also established a non-voting common stock class to facilitate this transfer, which automatically converts to regular common stock upon sale by Blackstone.
At the time of this filing, DLR was trading at $176.32 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $62B. The 52-week trading range was $146.23 to $208.14. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.