Digital Realty Acquires Data Center Development Property In Ontario (Canada)
SAN FRANCISCO, March 28, 2013
SAN FRANCISCO, March 28, 2013 /PRNewswire/ --Digital Realty Trust, Inc.
(NYSE: DLR), a leading global provider of data center solutions, today
announced that it has completed the acquisition of 371 Gough Road in Markham,
Ontario (Canada), a 120,000 square foot data center development property that
is located approximately 17 miles north of Toronto's central business
district; construction on the facility is subject to demand. The purchase
price was C$8.65 million.
"We have been tracking a significant amount of demand for enterprise-quality
data center space with very limited supply in the Toronto market," said Michal
F. Foust, chief executive officer of Digital Realty. "The acquisition of this
property expands our existing footprint and enables us to support our
customers' data center requirements in the Toronto market."
"The property currently consists of warehouse and some office space that is
48% leased to two tenants," said Scott Peterson, chief acquisitions officer of
Digital Realty. "As a data center, the facility is capable of supporting
approximately 5.4 megawatts of IT load, or four 1,350 kW Turn-Key Flex℠suites,
utilizing our new POD Architecture 3.0."
POD Architecture 3.0℠represents an improved, simplified arrangement of
components that serves as the foundation of Digital Realty's Turn-Key Flex
solution. Core to the enhancement is an increase in critical IT load capacity
to 1,200 to 1,300 kW from 1,125 kW. Using only two electrical skids versus the
previous design's three skids, the reduction of the infrastructure footprint
will help improve the yield on building space for data centers. POD 3.0 will
also produce data centers that feature higher energy efficiency (such as PUE
ratings below 1.2).
Digital Realty's Turn-Key Flex solution is a modular approach to delivering
secure, enterprise quality data center space to meet customers' just-in-time
requirements. Designed to provide maximum flexibility, reliability and
efficiency, each Turn-Key Flex facility comes fully commissioned with its own
dedicated electrical and mechanical infrastructure. Utilizing Digital Realty's
proprietary POD Architecture® and extensive supply chain, Digital Realty's
next generation Turn-Key Flex data center solution is designed for the future
and ready today.
About Digital Realty
Digital 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 119 properties,
excluding three properties held as investments in unconsolidated joint
ventures, comprise approximately 22.2 million square feet as of February 28,
2013, including 2.1 million square feet of space held for redevelopment.
Digital Realty's portfolio is located in 32 markets throughout Europe, North
America, Asia 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 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 our acquisition of a development
property in Ontario, supply and demand in the Toronto market, expected IT load
of the development site, our construction plans and expected PUE ratings using
our POD Architecture 3.0. 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
developed properties or businesses; the suitability of our properties and data
center infrastructure, delays or disruptions in connectivity, failure of our
physical infrastructure or services or availability of power; risks related to
joint venture investments, including as a result of our lack of control of
such investments; delays or unexpected costs in development 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 development; 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, 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 Stein Pamela M. Garibaldi
Chief Financial Officer and Vice President, Investor Relations and
Chief Investment Officer Corporate Marketing
Digital Realty Trust, Inc. Digital Realty Trust, Inc.
+1 (415) 738-6500 +1 (415) 738-6500
SOURCE Digital Realty Trust, Inc.
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