Press release from PR Newswire
Digital Realty Acquires Fully Leased Operating Data Center in Austin, Texas
Tuesday, June 19, 2012
Digital Realty Acquires Fully Leased Operating Data Center in Austin, Texas07:00 EDT Tuesday, June 19, 2012SAN FRANCISCO, June 19, 2012 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data center solutions, announced today that it has completed the acquisition of 8025 North Interstate 35, a 62,000 square foot data center facility located in Austin, Texas. The property totals 62,237 rentable square feet and is 100% leased on a long term, triple net basis to a leading provider of integrated disaster recovery, managed services, IT consulting and business continuity management software solutions. The purchase price was $12.5 million.The existing facility delivers approximately 4.5 MW of critical load over 30,000 raised square feet with an N+1 power configuration. Included in the acquisition is 11.28 acres of land which is capable of supporting up to 135,000 square feet of future data center development. "This acquisition adds a high quality and fully leased operating asset to our portfolio," said Scott Peterson, Chief Acquisitions Officer of Digital Realty. "The property is located near our 7500 Metro Center Drive facility, expanding our presence in the Austin market and contributing to our revenue stream with a long term, stabilized lease."About Digital RealtyDigital Realty Trust, Inc. focuses on delivering customer driven data center solutions by providing secure, reliable and cost effective facilities that meet each customer's unique data center needs. Digital Realty's customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty's 103 properties, excluding three properties held as investments in unconsolidated joint ventures, comprise approximately 19.7 million square feet as of June 6, 2012, including 2.3 million square feet of space held for redevelopment. Digital Realty's portfolio is located in 31 markets throughout Europe, North America, Singapore and Australia. Additional information about Digital Realty is included in the Company Overview, which is available on the Investors page of Digital Realty's website at http://www.digitalrealty.com.Safe Harbor StatementThis 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 our acquisition of the data center facility in Austin, Texas, and the future development at the property. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions, including the downgrade of the U.S. government's credit rating; current local economic conditions in our geographic markets; 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 (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing; increased interest rates and operating costs; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings or our breach of covenants or other terms contained in our loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; our inability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully integrate and operate acquired or redeveloped properties or businesses; risks related to joint venture investments, including as a result of our lack of control of such investments; 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; our inability to successfully develop 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 reporting 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; losses in excess of our insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including 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 U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2011 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2012. 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 SteinPamela M. Garibaldi Chief Financial Officer andVice President, Investor Relations and Chief Investment OfficerCorporate MarketingDigital Realty Trust, Inc.Digital Realty Trust, Inc.+1 (415) 738-6500+1 (415) 738-6500SOURCE Digital Realty Trust, Inc.