Digital Realty Trust, Inc. Expands European Portfolio With Acquisition of Paris Datacenter Facility
SAN FRANCISCO, Dec. 11 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading owner and manager of corporate datacenters and Internet gateways, announced today the acquisition of 114 Rue Ambroise Croizat in Paris, France. The purchase price for the datacenter facility was 38 million euros. The property is currently 64% leased and consists of a 151,000 square foot datacenter facility, which includes more than 76,000 square feet of raised floor, and over 201,000 square feet that will be added to the Company's inventory of space held for redevelopment.
"The acquisition of the Paris property accomplishes two important objectives for us. First, it establishes a significant footprint for DLR in this important global market with an income producing datacenter; and second, it represents an excellent opportunity for us to satisfy the demand for additional datacenter space in the Paris market with over 200,000 square feet available for redevelopment," commented Michael Foust, CEO of Digital Realty Trust. "The property is strategically located in a major European hub for technology real estate and benefits from a large concentration of power and fiber networks. As a result, it serves as a mission critical facility for our global managed service, telecommunication and networking tenants."
Paris is a strategic European gateway for many multi-national corporations and has been experiencing significant demand for highly improve datacenter space from international and regional corporations. With the acquisition of this facility, Digital Realty Trust is committed to serving these end users by offering both existing raised floor space as well as build-to-suit options. The Company is actively marketing this location on both a local and global basis.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. owns, acquires, repositions and manages technology-related real estate. Digital Realty Trust's 57 properties contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 11.4 million rentable square feet, including 1.5 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 25 markets throughout North America and Europe. For additional information, please visit the 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, 2005. 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 Matthews
Chief Financial Officer and Investor/Analyst Information
Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. (415) 738-6500
(415) 738-6500
SOURCE Digital Realty Trust, Inc.