TPG Real Estate to acquire a 80% stake in three stabilized hyperscale data centers in Northern Virginia from Digital Realty for $1.3bn.

TPG Real Estate, the real estate investment platform of TPG, agreed to acquire a 80% stake in three stabilized hyperscale data centers in Northern Virginia from Digital Realty, a global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, for $1.3bn. "We welcome this partnership with TPG, a highly distinguished investment partner. The completion of this stabilized hyperscale data center joint venture bolsters and diversifies Digital Realty's capital sources with an experienced partner and further enhances the efficiency of our balance sheet. We remain focused on positioning Digital Realty to prudently support our stakeholders' longer term capacity requirements and look forward to executing on the remaining elements of our capital plan for 2023," Greg Wright, Digital Realty Chief Investment Officer.