2023-07-27 16:57:31 ET
- Digital Realty ( NYSE: DLR ) and TPG Real Estate on Thursday announced a joint venture in which TPG will acquire a majority stake in three stabilized hyperscale data centers in Northern Virginia.
- Digital Realty will maintain a minority interest in the portfolio while continuing to manage the day-to-day operations of the assets, providing a seamless customer experience.
- The three hyperscale data centers were contributed to the joint venture at an aggregate value of $1.5B.
- Digital Realty will receive about $1.3B of gross proceeds related to the joint venture and the associated financing, which will be used to pay down debt, for transaction related expenses, and general corporate purposes.
- Source: Press Release
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Digital Realty and TPG announce joint venture of hyperscale data centers in Northern Virginia