QTS Realty Trust

Mega-scale data center solutions for hyperscalers, enterprises, and government across North America and Europe.

Updated May 2026

Overview

Website: qtsdatacenters.com
Ownership: Private
Segment: Data Center Operators

Product overview

QTS Realty Trust owns and operates over 9 million sq ft of data centers with 2+ GW critical power, specializing in secure, compliant infrastructure for AI, cloud, and high-density workloads. Customers include hyperscale tech firms, enterprises, and federal entities, supported by carrier-neutral colocation, connectivity, and software-defined platforms. Distinct for its Blackstone backing, operational maturity, supply chain access, and rapid growth driven by generative AI demand.,

Revenue model

Primarily from long-term leases (5-15 years) across hyperscale ($100-150/kW/month, NNN/single-tenant), wholesale colocation ($150-250/kW/month, MG+E/multi-tenant), and retail colocation ($200-400/kW/month), with 30-50% of revenue from power pass-throughs; evidenced by hyperscale deals adding $26M annual rent and securitizations like BX 2025-VOLT ($3.5B, 10 QTS centers).

Moat

Proprietary Technology
Scale Advantages
Cost Advantages
Distribution

QTS Realty Trust's key competitive moat stems from its proprietary software platform that enables advanced customer control and management of data infrastructure, complemented by a portfolio of scalable, strategically located data centers with low-cost land and power access.