Blackstone Files $1.75B IPO for Data Center REIT Offering 1% Bonus Shares
Blackstone Digital Infrastructure Trust filed to raise $1.75B in a U.S. IPO at $20 per share, including 1% bonus shares and up to $200M from a related affiliate. The REIT will buy tenant-occupied data centers valued $250M–$1.5B with $25B in targets across Northern Virginia, Ohio, Phoenix, Maryland and Austin.
1. IPO Filing Details
Blackstone Digital Infrastructure Trust filed its registration statement with the SEC to raise up to $1.75B through an IPO priced at $20 per share. Joint book-running managers include Goldman Sachs, Citigroup, Morgan Stanley, Barclays, Bank of America, Deutsche Bank, JPMorgan Chase, RBC and Wells Fargo, and shares will trade under ticker BXDC on the NYSE.
2. Acquisition Strategy and Pipeline
The REIT will acquire stabilized, tenant-occupied data centers valued between $250M and $1.5B, focusing on tenants with investment-grade credit ratings and large-scale operators. It has identified approximately $25B in potential acquisition targets across Northern Virginia, Ohio, Phoenix, Maryland and Austin.
3. Management and Investor Incentives
A related Blackstone affiliate intends to invest up to $200M in the IPO, reduced by any bonus shares allocated. The trust offers a 1% bonus share incentive to IPO participants and will pay base and performance fees to an affiliated Blackstone entity responsible for day-to-day management.