The asset involved in this transaction is a fully leased 432,824-square-foot industrial data center located at 1235 Beech Road Southwest in New Albany, Ohio. The property is part of a refinancing deal amounting to $1.3 billion, aimed at refinancing existing debt, returning equity, and covering transaction costs.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,300,000,000
• Address: 1235 Beech Road Southwest
• Market: New Albany, OH
• Lender: Wells Fargo, Barclays Bank, BBVA, Citi Real Estate Funding, Goldman Sachs, Natixis, PNC Bank, Royal Bank of Canada & Societe Generale
• Landlord: Stephen A. Schwarzman - Blackstone; QTS Realty Trust
• Loan Type: Refinance

This refinancing transaction is facilitated by a joint venture between Blackstone and QTS Realty Trust, reflecting QTS’s strategic expansion efforts in Ohio, which includes plans for a $10 billion, seven-building data center campus in Van Wert. The financing is part of QTS’s ongoing large-scale data center refinancings.