- Related and Blackstone secured $16B to build a data centers campus for Oracle in Michigan.
- The project represents the largest single investment in the state’s history.
- The Saline Township campus will deliver more than 1 gigawatt of capacity across three LEED-certified buildings.
- Blackstone stepped in to fund the project after Blue Owl Capital withdrew in late 2025.
Largest Michigan Investment
Related Digital and Blackstone closed a $16B financing package for a large data center project in Saline Township, Michigan. The Commercial Property Executive reports this build-to-suit campus for Oracle will deliver over one gigawatt of capacity. This scale makes it the largest investment ever recorded in the state. Construction has already started on the site. Once complete, the campus will include three LEED-certified data centers.
Funding and Power Details
The deal includes equity from the developers and funds tied to Blackstone plus long-term, fixed-rate debt managed by PIMCO. Bank of America structured the financing, while Goldman Sachs and Wells Fargo served as advisors. DTE Energy will provide all power using a mix of existing infrastructure and a new battery storage system funded by Oracle. The development aims to protect local water resources with closed-loop systems.
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Ownership Shift After Blue Owl Exit
Originally, Blue Owl Capital was Oracle’s key partner, but it exited the deal in late 2025. Blackstone then increased its commitment, stepping in to secure the project’s future funding. In prior Stargate Project phases, Blue Owl had supplied equity for Oracle’s $18B New Mexico campus and a $15B Texas development. Blackstone’s data centers portfolio rapidly grew in 2026, with $7B deployed in the first quarter alone.
Why This Matters
The Michigan data centers campus reflects rising investor appetite for large digital infrastructure assets and the explosive demand driven by AI. That same demand has started to lift Oracle’s broader performance, as expanding data center capacity feeds directly into stronger revenue expectations. As part of the Stargate Project, Oracle’s new campus will support advanced computing needs with sustainable, resilient design. The funding shift underscores Blackstone’s prominent role in global data centers investment, a trend likely to continue as digital requirements accelerate.
