Digital Realty Trust Completes Two Datacenter Acquisitions in Silicon Valley
29 Septembre 2009 - 2:00PM
PR Newswire (US)
Company acquires 42,000 square foot operating datacenter facility
and buys out ownership interest in 1525 Comstock Street property
from joint venture partner SAN FRANCISCO, Sept. 29
/PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE:DLR),
the world's largest wholesale datacenter provider, announced today
that it has acquired 444 Toyama Drive, an operating datacenter
located in Sunnyvale, California. The two-story facility totals
approximately 42,000 rentable square feet, including 32,000 square
feet of raised floor space. The property is 100 percent leased
through mid 2022 on a triple net basis to a leading provider of
network neutral data center and Internet exchange services. The
company also announced that it has acquired the ownership interest
in 1525 Comstock Street located in Santa Clara, California from its
joint venture partner. The property totals approximately 42,000
square feet, including 29,000 square feet of raised floor space.
The properties were acquired for a total purchase price of
approximately $44.3 million. The Company expects the blended cash
cap rate on these acquisitions to be consistent with its 2009
guidance, as updated on its last earnings call. "An important part
of our strategy is to acquire income-producing assets at attractive
yields as a compliment to our redevelopment program. Our
acquisitions team continues to demonstrate its ability to source
and capitalize on these opportunities, such as the Toyama Drive
property, where we acquired a long-term, secure income stream at an
accretive yield," commented Scott Peterson, Senior Vice President
of Acquisitions for Digital Realty Trust. "Additionally, the
purchase of the ownership interest from our joint venture partner
in the 1525 Comstock Street property is consistent with our
strategy of remaining the long term owner and operator of the
Turn-Key Datacenter facilities that we develop." Digital Realty
Trust Turn-Key Datacenter® facilities provide state-of-the-art
environments for supporting mission critical infrastructure, with
advanced cooling, power, redundancy, and sustainability features to
ensure that critical applications are available while optimizing
energy efficiency. Digital Realty Trust's Turn-Key Datacenters® are
scalable from hundreds of kilowatts of IT load to megawatts of IT
load and are located in markets throughout North America and
Europe. Each Turn-Key Datacenter® facility is physically secure and
features a state-of-the-art power and cooling architecture that has
been optimized for green operation. Every Turn-Key Datacenter® is
built using the company's proprietary POD Architecture® and uses
metered power to ensure that clients pay only for the power that
they use. About Digital Realty Trust, Inc. Digital Realty Trust
owns, acquires, redevelops, develops and manages technology-related
real estate. The Company is focused on providing Turn-Key
Datacenter® and Powered Base Building® datacenter solutions for
domestic and international tenants across a variety of industry
verticals ranging from information technology and internet
enterprises, to manufacturing and financial services. Digital
Realty Trust's 77 properties, excluding one property held as an
investment in an unconsolidated joint venture, contain applications
and operations critical to the day-to-day operations of technology
industry tenants and corporate enterprise datacenter tenants.
Comprising approximately 13.8 million square feet as of September
28, 2009, including 1.9 million square feet of space held for
redevelopment, Digital Realty Trust's portfolio is located in 27
markets throughout Europe and North America. For additional
information, please visit Digital Realty Trust's website at
http://www.digitalrealtytrust.com/. Forward-Looking Statement This
press release contains forward-looking statements which are based
on current expectations, forecasts and assumptions that involve
risks and uncertainties that could cause actual outcomes and
results to differ materially, including statements related to
expected cash cap rates. These risks and uncertainties include the
impact of the current deterioration in the global economy; future
income, expenses, including property taxes, and capital
expenditures for the properties being acquired being consistent
with our due diligence and underwriting expectations; bankruptcy or
insolvency of one or more tenants at the properties being acquired;
the downturn of economic conditions in our geographic markets,
including the markets where the properties being acquired are
located; decreases in information technology spending, including as
a result of economic slowdowns or recession; adverse economic or
real estate developments in our industry or the industry sectors
that we sell to; decreases in real estate valuations and resulting
impairment charges; our dependence upon significant tenants;
defaults on or non-renewal of leases by tenants; our failure to
obtain necessary debt and equity financing for refinancing;
increased interest rates and operating costs; our failure to repay
debt when due or our breach of covenants or other terms contained
in our loan documents; financial market fluctuations; our ability
to manage our growth effectively; our failure to successfully
operate acquired or redeveloped properties; delays or unexpected
costs in development or redevelopment of properties; decreased
rental rates or increased vacancy rates; increased competition or
available supply of data center space; inability to successfully
redevelop and lease new properties and space held for
redevelopment; difficulties in identifying properties to acquire
and completing acquisitions; our inability to acquire off-market
properties; our inability to comply with the rules and regulations
applicable to public companies; our failure to maintain our status
as a REIT; possible adverse changes to tax laws; restrictions on
our ability to engage in certain business activities; environmental
uncertainties and risks related to natural disasters; changes in
foreign laws and regulations, including those related to taxation
and real estate ownership and operation; changes in real estate and
zoning laws; and increases in real property tax rates. For a
further list and description of such risks and uncertainties, see
the reports and other filings by the Company with the United States
Securities and Exchange Commission, including the Company's annual
report on Form 10-K for the year ended December 31, 2008 and the
Company's quarterly reports on Form 10-Q for the quarters ended
March 31, 2009 and June 30, 2009. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. For Additional Information: A. William Stein Pamela
A. Matthews Chief Financial Officer and Director of Investor
Relations Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. +1 415-738-6500 +1 415-738-6500
DATASOURCE: Digital Realty Trust, Inc. CONTACT: A. William Stein,
Chief Financial Officer and Chief Investment Officer, or Pamela A.
Matthews, Director of Investor Relations, both of Digital Realty
Trust, Inc., +1-415-738-6500 Web Site:
http://www.digitalrealtytrust.com/
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