Simpson Thacher advised Blackstone Digital Infrastructure Trust Inc. (“BXDC”) on its initial public offering, which raised total gross proceeds of $1.75 billion. In addition to being the largest blind pool REIT IPO on record, BXDC’s offering is the third largest REIT IPO of all time.
A total of 87,500,000 shares of common stock were sold in the offering at a public offering price of $20.00 per share. BXDC also granted the underwriters a 30-day option to purchase additional shares. If the option to purchase additional shares is exercised in full, the gross proceeds of the offering will be $2.0 billion. BXDC’s common stock began trading on the New York Stock Exchange under the ticker symbol “BXDC” on May 14, 2026.
Blackstone Digital Infrastructure Trust is a newly organized company focused on acquiring and owning mission-critical data center assets that power the modern digital economy. BXDC targets newly-constructed, income-generating, stabilized data center properties leased to investment-grade hyperscale tenants on long-term contracts. BXDC is externally managed by an affiliate of Blackstone Inc., the world’s largest alternative asset manager and the largest financial investor in data center and digital infrastructure assets globally.
The Simpson Thacher team included Edgar Lewandowski, Jieun Lim, Ben Pittenger, Michael Tremeski, Delia Li and Stephanie Shim (Capital Markets); Scott Kobak, Sam Rudik, Avi Kaye, Dorian Ledbetter and Shane Herskowitz (Real Estate); Nancy Mehlman and Elizabeth Trask (Tax); Brian Gluck, Callie Robins and Emma Li (Credit); Andrew Blau, Daniella Villatoro and Skyler Kanfer (Executive Compensation and Employee Benefits); Eliza Murray and John Strubing (Public Company Advisory Practice); James Rapp, Bettina Elstroth and Joshua Traube (Section 16/Section 13); Jennie Getsin (FINRA); Nicholas Ridley, Justin Browder, and Seth Davis (Registered Funds); Caroline Geiger, Chandler Gerard-Reimer and Corina DeFeo (Intellectual Property); and Leah Malone (Environmental, Social and Governance). Marlena Choupo also provided valuable assistance.