TPG Real Estate Acquires Majority Stake in Three Northern Virginia Hyperscale Data Centers from Digital Realty
July 27, 2023
TPG Real Estate (through TPG Real Estate Partners) has acquired a majority stake in a portfolio of three stabilized hyperscale data centers in Ashburn, Northern Virginia, in a joint venture with Digital Realty, which retains a minority interest and will continue to manage the assets. The three facilities were contributed at an aggregate value of $1.5 billion (approx. 104 MW IT capacity), with the transaction valuing the portfolio at roughly a 6.0% cap rate and Digital Realty receiving about $1.3 billion of gross proceeds.
- Buyers
- TPG Real Estate (TPG Real Estate Partners)
- Targets
- Northern Virginia Hyperscale Data Center Portfolio (3 facilities)
- Sellers
- Digital Realty
- Industry
- Real Estate
- Location
- Virginia, United States
- Transaction Type
- Divestiture
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