CoreSite Obtains $100 Million Through Five-Year, Senior Unsecured Term Loan Financing

  CoreSite Obtains $100 Million Through Five-Year, Senior Unsecured Term Loan
  Financing

             Balances debt profile and extends maturity schedule

Business Wire

DENVER -- February 5, 2014

CoreSite Realty Corporation (NYSE:COR), a provider of network-dense,
cloud-enabled enterprise-class data center products and services, today
announced that its operating partnership, CoreSite, L.P., entered into a new
$100 million, five-year, senior unsecured term loan. The term loan has an
accordion feature, which allows the operating partnership to increase the
total commitments by $100 million, to $200 million, under specified
circumstances.

The senior unsecured term loan ranks pari-passu with CoreSite’s revolving
credit facility and contains the same financial covenants and other customary
restrictive covenants as the revolving credit facility. CoreSite used the
proceeds from the senior unsecured term loan to retire the approximately $58
million SV1 mortgage loan and pay down a portion of the company’s outstanding
revolving credit balance.

CoreSite also entered into a $100 million interest rate swap agreement to fix
the interest rate in order to protect against adverse fluctuations in LIBOR.
At CoreSite’s current leverage ratio, the swap effectively fixes the interest
rate at 3.23%.

“We are pleased to announce the closing of the term loan, and appreciate the
continued support of our banking partners. We believe this financing enables
us to secure an attractive interest rate, balance our debt maturities, and
create capacity on our line of credit to support additional investment,” said
Jeff Finnin, CoreSite’s chief financial officer. “We also believe that
retiring our only remaining mortgage loan and as such converting the company
to an unsecured borrower is an important step toward our long-term goal of
attaining an investment-grade rating.”

About CoreSite

CoreSite Realty Corporation (NYSE:COR) delivers secure and reliable data
center solutions across eight key North American markets. CoreSite
connects,protects and delivers an optimal performance environment and
continued operation of mission-critical data and IT infrastructure for
enterprises andInternet, private networking, mobility, and cloudservice
providers. CoreSite'sscalable platform of over two and a half million square
feet of efficient, network-dense, cloud-enabled data center capacity enables
customers to accelerate business performance, reduce operating costs and
increase flexibility across their IT and communications systems. CoreSite's
350 professionals deliver best-in-class service by placing customer needs
first in supporting the planning, implementation and operating requirements
foundational to delivering reliable, secure and efficient IT operating
environments.

More than 750 of the world’s leading enterprises, carriers and mobile
operators, content and cloud providers and media and entertainment companies
choose CoreSite to connect, protect and optimize their performance-sensitive
data, applications and computing workloads. CoreSite provides valuable
gateways to global business opportunities with direct access to more than 275
carriers and ISPs, inter-site connectivity and CoreSite'sOpen Cloud Exchange,
which supports rapid, efficient and scalable Ethernet access to multiple key
public clouds, enabling simple, flexible, multiple-cloud capabilities.

For more information, visitwww.CoreSite.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning
of the federal securities laws. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies, anticipated
events or trends and similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking statements
by the use of forward-looking terminology such as "believes," "expects,"
"may," "will," "should," "seeks," "approximately," "intends," "plans," "pro
forma," "estimates" or "anticipates" or the negative of these words and
phrases or similar words or phrases that are predictions of or indicate future
events or trends and that do not relate solely to historical matters.
Forward-looking statements involve known and unknown risks, uncertainties,
assumptions and contingencies, many of which are beyond CoreSite's control,
which may cause actual results to differ significantly from those expressed in
any forward-looking statement. These risks include, without limitation: the
geographic concentration of CoreSite's data centers in certain markets and any
adverse developments in local economic conditions or the demand for data
center space in these markets; fluctuations in interest rates and increased
operating costs; difficulties in identifying properties to acquire and
completing acquisitions; significant industry competition; CoreSite's failure
to obtain necessary outside financing; CoreSite's failure to qualify or
maintain its status as a REIT; financial market fluctuations; changes in real
estate and zoning laws and increases in real property tax rates; and other
factors affecting the real estate industry generally. All forward-looking
statements reflect CoreSite's good faith beliefs, assumptions and
expectations, but they are not guarantees of future performance. Furthermore,
CoreSite disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying assumptions or
factors, of new information, data or methods, future events or other changes.
For a further discussion of these and other factors that could cause
CoreSite's future results to differ materially from any forward-looking
statements, see the section entitled "Risk Factors" in CoreSite's most recent
annual report on Form 10-K, and other risks described in documents
subsequently filed by CoreSite from time to time with the Securities and
Exchange Commission.

Contact:

CoreSite Investor Contact
Greer Aviv / CoreSite Investor Relations Director
+1 303-405-1012 / +1 303-222-7276
Greer.Aviv@CoreSite.com
 
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