QTS Data Centers (Blackstone)
Develop-own-lease wholesale/hyperscale data centers: long-dated (15+ year, often 15-20 year) triple-net-style leases with contractual escalators to investment-grade hyperscale tenants; capital-intensive build funded via sponsor equity, IG project bonds, CMBS and bank debt at the asset level
QTS is 100% sponsor-owned with no primary fundraising rounds since the 2021 take-private, so the trail is deal-event based: the 2021 point is a disclosed transaction EV; the 2025 point is press framing anchored by the real ~$3B founder-stake purchase. Corroborating direction (not marks): leased capacity ~14-15x since acquisition, +18% appraisal uplift on a refinanced 10-property CMBS pool, and the ~$40B Aligned Data Centers comp (Oct 2025).
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Full financial intelligence for QTS Data Centers (Blackstone)
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range