Blackstone, Related Digital Secure Financing for $16B Michigan Data Center Campus

Related Digital and Blackstone have secured financing for a $16 billion data center campus in Saline Township, Michigan. The financing package includes equity from Related Digital and Blackstone-affiliated funds, alongside fixed-rate, long-term debt anchored by funds and accounts managed by PIMCO. The campus, being developed for Oracle, will comprise three single-story data center buildings with more than one gigawatt of capacity.

“Major construction is well underway in Saline Township, momentum is strong, and we are laser focused on executing with the same discipline that has defined Related for more than 50 years,” said Jeff T. Blau, CEO of Related Companies and Chairman of Related Digital.

The project is part of Oracle’s broader partnership with OpenAI to expand AI compute capacity across the U.S., reflecting growing demand for large-scale infrastructure to support advanced workloads.

Power for the campus will be supplied entirely by DTE Energy using existing resources, supplemented by a new battery storage investment financed by Oracle. The structure is expected to generate approximately $300 million in savings for DTE’s existing customers.

“The rapid progress at our Saline Township data center underscores the urgency and scale of building America’s next-generation AI infrastructure,” said Mahesh Thiagarajan, EVP of Oracle Cloud Infrastructure.

The development is also expected to deliver more than 2,500 union construction jobs, over 450 permanent onsite roles and more than 1,500 additional jobs across the county.

Bank of America served as structuring agent and financial advisor, with Goldman Sachs and Wells Fargo also serving as advisors to Related Digital.

Pictured: Data center campus in Saline Township, MI.