Blackstone sells $2.35B in Digital Realty shares via secondary offering

Blackstone Inc. is selling $2,346 million worth of shares in Digital Realty (NYSE: DLR) through an underwritten registered public offering, according to a press release from Digital Realty.

The shares consist of non-voting common stock to be issued to Blackstone upon the expected closing of Digital Realty's acquisition of Blackstone's interests in the Digital Carver Dulles 9 and Digital Carver Brickyard joint ventures. That transaction is expected to close June 30, 2026. Upon transfer by Blackstone in connection with the offering, the non-voting shares will automatically convert into common stock.

Digital Realty is not selling any shares in the offering and will not receive any proceeds from the transaction. The offering is conditioned on the closing of the acquisition and the issuance of the non-voting common stock to Blackstone.

Morgan Stanley will act as sole underwriter for the offering, which is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.

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