Digital Realty acquires Northern Virginia data center properties

Wholesale data center provider Digital Realty Trust, Inc. (NYSE: DLR) announced that it has acquired two fully leased data center properties and a 10.73 acre site in Northern Virginia.

The first property, 45901 & 45845 Nokes Boulevard, is located in Sterling, Virginia, totals approximately 167,000 rentable square feet and is fully leased to a leading managed service provider. The second property, 21561 & 21571 Beaumeade Circle, is located in Ashburn, Virginia, totals over 164,000 rentable square feet and is fully leased to one of the world's largest communications companies.

Adjacent to the Beaumeade Circle property is the 10.73 acre land parcel, which is capable of supporting up to 140,000 square feet of new data center development. The transaction closed on December 18, 2009, and the total purchase price for the properties was $63.3 million.

"We are continuing to execute on our strategy to grow FFO by investing in income producing facilities at attractive risk-adjusted returns in top tier markets with this acquisition," comments Scott Peterson, senior vice president of acquisitions for Digital Realty Trust. "The buildings are strategically located near our existing Northern Virginia facilities and are leased to existing DLR customers. This further expands our footprint in this key data center market to approximately 1.2 million rentable square feet. The addition of the land parcel can also serve to accommodate future growth."

"This transaction brings total acquisitions of income producing properties to $197.7 million for 2009, near the high end of our acquisitions guidance for the year," states A. William Stein, chief financial officer and chief investment officer for Digital Realty Trust. "We also expect the average cash cap rate to be within the cap rate guidance that was provided."

On the Web:www.digitalrealtytrust.com