Release Details

SAN FRANCISCO, Calif., Aug. 29 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading owner and manager of corporate datacenters and Internet gateways, announced today the acquisition of 900 Walnut Street and 210 Tucker Boulevard, together previously known as the Bandwidth Exchange Buildings, located in St. Louis, Missouri. The total purchase price was $53.0 million.

The seven-story 900 Walnut building serves as the premier Internet gateway facility for the St. Louis region and contains over 25 local and long haul fiber carriers and ISPs. It totals approximately 110,000 rentable square feet and is 100% leased. The 18-story 210 Tucker Boulevard building serves as a multi-tenant datacenter facility with a significant amount of dark fiber connecting directly to the 25+ fiber carriers at 900 Walnut Street. It contains approximately 200,000 rentable square feet, including 62,000 square feet of redevelopment space. Excluding the redevelopment space, the building is approximately 98% leased.

"The addition of these buildings to our income producing portfolio represents a very attractive value-add investment opportunity for us. Both buildings were renovated in 1999 to serve as Internet gateway and corporate datacenter facilities. Together these facilities have excess power and fiber available to meet the most demanding corporate IT applications in a market where utility power pricing is very attractive," commented Michael Foust, CEO of Digital Realty Trust. "We plan to make select improvements to each building in order to meet the current tenants' ongoing datacenter requirements and build out the redevelopment space at 210 Tucker Boulevard to attract new customers to the facility."

"Many of DLR's existing customers occupy space in both 900 Walnut and 210 Tucker. We look forward to the opportunity to expand our relationship with them as we upgrade the buildings and bring in new customers," commented Chris Crosby, SVP of Sales and Technical Services. "Our unique ability to add value through our proprietary POD Architecture(TM) and Critical Facilities Management(TM) programs will provide customers at these facilities with the full breadth of the Digital Realty Trust offering: from Turn-Key Datacenter(TM) to single tenant build-to-suit datacenter."

Digital Realty Trust's Turn-Key Datacenters(TM) are move-in ready, physically secure facilities with the power and cooling capabilities to support critical enterprise applications. Digital Realty Trust offers scalability from one hundred square feet to over one hundred thousand square feet in state-of-the-art facilities with true carrier and managed service provider neutrality and metered power. Its Critical Facilities Management(TM) services and team of technical engineers and datacenter operations experts support the 24/7 mission-critical applications of today's technology and corporate enterprise tenants.

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 Datacenter(TM) and Powered Base Building(TM) 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 64 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 11.7 million rentable square feet, including 1.7 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 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; 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; 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, including the Company's annual report on Form 10-K for the year ended December 31, 2006. 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.
    (415) 738-6500

    Pamela A. Matthews
    Investor/Analyst Information
    Digital Realty Trust, Inc.
    (415) 738-6532

    Chris Crosby
    Business Contact
    Digital Realty Trust, Inc.
    (214) 231-2491

SOURCE Digital Realty Trust, Inc.