Related Digital and Blackstone have confirmed that financing is now in place for a massive $16 billion data centre campus in Michigan. The project is being custom built for Oracle to support its work with OpenAI. Equity for the development comes from Related Digital and funds linked to Blackstone. Long term debt financing is being provided by funds managed by PIMCO. Bank of America acted as the lead advisor for the deal.

The development in Saline Township is set to become a major employment hub. It is expected to create over 2,500 union construction jobs and 450 permanent roles on the site. Local authorities expect the project to generate millions in annual tax revenue for schools and county services. Related Digital has also committed $14 million toward the local fire department and community initiatives.

Jeff T. Blau, CEO of Related Companies and Chairman of Related Digital, said: “The strength of this financing is a powerful validation of what we have built at Related Digital and of the critical role this project will play in America’s digital future. We are grateful for the confidence of Blackstone, PIMCO, and our world class banking partners, institutions who understand the scale, complexity, and long-term value of what we are delivering for our partners at Oracle and OpenAI. I also want to extend my thanks to Governor Gretchen Whitmer, whose commitment to ensuring Michigan competes in the innovation economy in a responsible and forward-thinking way has made this possible. 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.”

Nadeem Meghji, Global Head of Blackstone Real Estate, said: “Demand for digital infrastructure continues at a breathtaking pace, driven by AI and the broader digitalization of the economy. This investment is another way we are capitalizing on this generational opportunity and helping provide much needed compute capacity. We’re excited to back the largest ever investment in the state of Michigan and we look forward to supporting Related Digital as it delivers this critical AI infrastructure.”

The site is known as “The Barn” because a historic red structure at the entrance has been preserved. The campus will consist of three buildings with over a gigawatt of capacity. It will use a closed loop system to protect local water. DTE Energy will provide the power. Oracle is funding a new battery storage system to support the grid.

Jim DeMare, Co-President, Bank of America, said: “Strong investor demand for high-quality digital infrastructure continues to drive significant capital formation, particularly for projects of this scale and complexity. Our deep relationships with sponsor clients and investors, together with our expertise in structuring infrastructure finance transactions, positioned us well to help structure these transactions efficiently. We are proud to support Related Digital, Blackstone and Oracle on this landmark project in Michigan.”

Mahesh Thiagarajan, Executive Vice President, Oracle Cloud Infrastructure, said: “The rapid progress at our Saline Township data center underscores the urgency and scale of building America’s next-generation AI infrastructure. Together with our partners, we are not just building a data center—we are creating high-quality jobs, investing in the communities in which we operate, and driving long-term economic growth. This project reflects our deep commitment to Michigan and to powering the future of AI in the United States.”