Blue Owl Digital Infrastructure Trust Closes $779.5 Million Virginia Data Center Purchase
The trust paired cash from its continuous private offering with a $512.6 million floating-rate mortgage from Citibank and Wells Fargo.
November 12, 2026
Blue Owl Digital Infrastructure Trust has completed its acquisition of a 54-megawatt data center in Gainesville, Virginia, for an aggregate purchase price of approximately $779.5 million, subject to closing adjustments. The facility is 100% leased to a single hyperscaler customer, which the trust did not name. The deal closed on November 10, 2026. As of June 30, the trust owned 12 properties.
Deal Structure
The trust bought the property indirectly. Its wholly owned subsidiary NVA11C LLC acquired all of the membership interests in GCDC Purchaser Phase 3 LLC, which holds fee title to the data center, from unaffiliated seller US GCDC Phase 3 Holdings LP. The two sides signed the purchase agreement on May 18, 2026, and the trust first disclosed it later that month.
The trust funded the purchase with available cash, which it said consists primarily of proceeds from its continuous private offering, and with a new mortgage loan placed at the property level.
Financing Terms
The property-owning entity borrowed approximately $512.6 million from Citibank, N.A. and Wells Fargo Bank, National Association, with Citibank serving as administrative agent. The loan is secured primarily by a mortgage on the data center, and its proceeds went toward, among other things, acquisition costs and the expenses of closing the loan.
The loan bears interest at one-month Term SOFR plus 2.00% per year through November 9, 2027. The spread rises to 2.25% from then until the initial maturity in December 2028, and to 2.50% during a single 12-month extension that is available if certain conditions are met.
The borrower can prepay the loan in whole or in part at any time. Repaying it in full triggers an exit fee equal to 0.25% of the original principal, subject to certain exceptions. The loan agreement contains customary representations, covenants, reserve requirements and events of default, and Blue Owl Digital Infrastructure Operating Partnership LP provided a customary non-recourse guaranty.
The trust plans to file financial statements for the acquired business, along with pro forma financial information, in an amendment.
