SAN FRANCISCO and LONDON, Dec. 18 /PRNewswire-FirstCall/ -- Digital Realty
Trust, Inc. (NYSE: DLR), a leading owner and manager of corporate datacentres
and Internet gateways, announced today the acquisition of two properties in
Europe. The first property, Cressex 1, is located in suburban London and
totals approximately 51,000 rentable square feet of redevelopment space. The
purchase price was 6.5 million British pounds sterling. The Company plans to
build 20,000 square feet of raised floor, Turn-Key Datacentre(TM) space
offering 2.88 MW of IT load, as well as 15,000 square feet of supporting
office/business continuity space. Construction is scheduled to commence in
the first quarter of 2008 with completion expected by September 2008.
The second property, Naritaweg 52, is located in Amsterdam, Netherlands.
It was purpose built as a datacentre in 2001 and totals over 63,000 rentable
square feet. The purchase price was 18.9 million euros. The building is
100% leased through September 2011 to a leading international information
technology services company and consists of over 24,000 square feet of raised
floor technical space and nearly 21,000 square feet of office and other space.
"The addition of these two properties to our portfolio represents our
continued expansion into select European markets, and is consistent with our
strategy of acquiring high quality income producing assets along with
value-add properties suitable for redevelopment," commented Michael F. Foust,
Chief Executive Officer of Digital Realty Trust.
"We are continuing to see strong demand from customers seeking Turn-Key
Datacentre(TM) space in the London market, where supply remains very limited,"
added Chris Crosby, Senior Vice President of Digital Realty Trust.
"Redeveloping Cressex 1 gives us an opportunity to bring two 10,000 square
foot PODs of Turn-Key Datacentre(TM) space to the supply-constrained London
market much more quickly than if we were to develop a facility from the ground
up -- meeting the current demand while avoiding much of the risk associated
with greenfield developments. Building out the space utilizing our POD
Architecture(TM) will bring several unique elements to the UK market. The POD
Architecture(TM) employs system plus system architecture providing a full 2N
power train, as opposed to the shared electrical buss N+1 infrastructure
typically utilized by other providers. Additionally, with our expertise in
developing to green standards, including BREEAM in Europe and LEEDS in the US,
we plan to deliver these as sustainable datacentres."
Digital Realty Trust's Turn-Key Datacentres(TM) 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 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 Datacentre(TM) is built
using the Company's proprietary POD Architecture(TM) and uses metered power to
ensure that clients pay only for the power that they use. Each Turn-Key
facility is also managed via Digital Realty Trust's Critical Facilities
Management(TM) program to ensure the maximum uptime of mission critical
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. owns, acquires, repositions and manages
technology-related real estate. The Company is focused on providing Turn-Key
Datacentre(TM) and Powered Base Building(TM) datacentre 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 69 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 datacentre tenants.
Comprising approximately 12.1 million rentable square feet, including
1.8 million square feet of space held for redevelopment, Digital Realty
Trust's portfolio is located in 26 markets throughout North America and
Europe. For additional information, please visit Digital Realty Trust's
website at http://www.digitalrealtytrust.com.
Safe Harbor Statement
This press release contains forward-looking statements, including related
to its intention to redevelop the Cressex 1 facility and the standards to be
employed in connection with that redevelopment, which are based on current
expectations, forecasts and assumptions that involve risks and uncertainties
that could cause actual outcomes and results to differ materially. These risks
and uncertainties include adverse economic or real estate developments in the
Company's markets or the technology industry; general economic conditions and
economic conditions in Europe specifically; defaults on or non-renewal of
leases by tenants; increased interest rates and operating costs; inability to
manage domestic and international growth effectively; failure to obtain
necessary outside financing; decreased rental rates or increased vacancy
rates; difficulties in identifying properties to acquire and completing
acquisitions at acceptable return levels; failure to successfully operate
acquired properties and operations; failure of acquired properties to perform
as expected; failure to successfully redevelop properties acquired for such
purposes or unexpected costs related thereto; failure to maintain the
Company's status as a REIT; environmental uncertainties and risks related to
natural disasters; financial market fluctuations; changes in foreign currency
exchange rates; risks of operating in foreign markets; and 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, or SEC, including the Company's annual report on Form
10-K for the year ended December 31, 2006, as updated by subsequent reports on
Form 10-Q and Form 8-K filed with the SEC. 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
Chief Financial Officer and
Chief Investment Officer
Digital Realty Trust, Inc.
Pamela A. Matthews
Digital Realty Trust, Inc.
Sales & Technical Operations
Digital Realty Trust, Inc.
SOURCE Digital Realty Trust, Inc.