The joint venture has just acquired a 90% interest in two single-tenant data centre shell properties that total 432,000 sq ft - and which are valued at $119 million.
The partners, who have previously worked together on data centre buying and selling projects, have not said where the two data centres they have acquired are located, nor have they revealed the identity of the seller.
COPT is a REIT that owns, manages, leases, develops and acquires office and data centre properties.
New York Stock Exchange-listed COPT said it has received approximately $107 million of equity proceeds it will deploy into its 1.7 million sq ft pipeline of “active development projects”, that, as of 31 May 2021, were 87% pre-leased.
The majority of its current portfolio properties are in locations that support the US government and its contractors, most of whom are engaged in national security, defence and IT-related activities.
It controls 180 office and data centre shell properties totalling 20.8 million sq ft. It also owns one wholesale data centre with a critical power load of 19.25MW.
Blackstone’s real estate business was founded in 1991 and has $196 billion of investor capital under management.
