Affiliates of Blackstone Inc. are selling 12,310,249 shares of Digital Realty (NYSE: DLR) common stock at $185.00 per share in an underwritten public offering, according to a press release from Digital Realty.

The shares will be issued to Blackstone upon the closing of Digital Realty's acquisition of Blackstone's interests in the Digital Carver Dulles 9 and Digital Carver Brickyard joint ventures, which was expected to occur on June 30, 2026. Each share of non-voting common stock will automatically convert into one share of common stock upon its transfer by Blackstone in connection with the offering.

Digital Realty is not selling any shares in the offering and will not receive any proceeds from the sale. The offering is expected to close on July 1, 2026, subject to customary closing conditions, and is contingent on the closing of the acquisition.

Morgan Stanley acted as the sole underwriter for the offering.