Goodwin Advises Morgan Stanley as Sole Underwriter in Digital Realty’s Secondary Offering of Common Stock by Blackstone

The Goodwin Real Estate Capital Markets team advised Morgan Stanley, as sole underwriter, in connection with the largest ever equity REIT secondary block trade. The transaction involved an underwritten registered public offering of 12,310,249 shares of Digital Realty’s common stock by affiliates of Blackstone. The offering was completed in connection with Digital Realty’s acquisition of Blackstone’s interests in two joint ventures that own and are developing three hyperscale data centers totaling 288 MW of expected IT capacity. As consideration of the acquisition, Digital Realty issued approximately $2.3 billion in shares of common stock and paid approximately $1.2 billion in cash to Blackstone.

Digital Realty is the largest global provider of cloud- and carrier-neutral data center, colocation, and interconnection solutions for domestic and international customers across a variety of industry verticals ranging from cloud and information technology services, communications, and social networking, to financial services, manufacturing, energy, healthcare, and consumer products.

Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management, and investment management services. With offices in more than 41 countries, the firm’s employees serve clients worldwide including corporations, governments, institutions, and individuals.

The Goodwin team was led by Audrey Leigh, Chris Versfelt, Chloe Pletner, Brandon Richards, Caitlin Tompkins, Brad Weber, Edward Glazer, and Benjamin Gossels.

For more information on the deal, please read the press release.