Investor Blackstone and data centre developer Digital Realty have teamed up to spend $7bn on 10 new data centres in western Europe and the US.
The data centres will be spread among four campuses located in Frankfurt, Paris, and northern Virginia.
Altogether, they will support some 500MW of total IT load.
Blackstone will acquire an 80% ownership of the joint venture with an upfront investment of $700m.
Digital Realty will take a 20% share, and will manage the joint venture’s day-to-day operations for a fee.
The partners will fund their pro rata share of the development costs until Blackstone-affiliated funds join in.
Of the 500MW capacity, 46MW is already under construction and is 33% is pre-leased, Digital Realty said.
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