Summary
Digital Realty Trust, Inc. (DLR) filed an 8-K on July 1, 2026, detailing the completion of its acquisition of Blackstone's interests in two joint ventures, Digital Carver Dulles 9 and Digital Carver Brickyard. This strategic move consolidates DLR's ownership in these key data center assets. Following the acquisition, Blackstone completed an underwritten public offering of 12,310,249 shares of DLR's common stock. These shares were initially issued as non-voting common stock by DLR to Blackstone and subsequently converted into voting common stock for the public offering. It's important for investors to note that DLR did not receive any proceeds from this sale, as it was an offering by Blackstone. The non-voting common stock mechanism was established through Articles Supplementary to DLR's charter, which designated specific shares with identical rights to common stock except for voting power and automatic conversion upon transfer to an unaffiliated party.
Key Highlights
- 1Digital Realty (DLR) completed the acquisition of Blackstone's interests in the Digital Carver Dulles 9 and Digital Carver Brickyard joint ventures on June 30, 2026.
- 2Blackstone Inc. sold 12,310,249 shares of DLR common stock via an underwritten public offering on July 1, 2026, at $185.00 per share.
- 3DLR did not receive any proceeds from Blackstone's public offering of DLR shares.
- 4DLR issued 12,310,249 shares of non-voting common stock to Blackstone as part of the acquisition.
- 5These non-voting shares automatically converted into voting common stock upon Blackstone's sale to the public.
- 6The non-voting common stock has identical rights to regular common stock, except for voting rights and automatic conversion terms.
- 7The transactions were conducted under DLR's effective shelf registration statement on Form S-3.