SAN FRANCISCO — San Francisco-based Digital Realty Trust has entered into a definitive purchase agreement to acquire a five-property data center portfolio for a total of $725 million. The REIT acquired the data centers from joint ventures that are majority-owned by affiliates of Rockwood Capital and managed by 365 Main Inc.
The properties total 919,000 square feet of space and were developed in 2000 or later. They include: 212 South Price Road in Chandler, Ariz.; 365 Main Street in San Francisco; 2260 East El Segundo Boulevard in El Segundo, Calif.; 720 2nd Street in Oakland, Calif.; and 4030-4050 Lafayette Center Drive in Chantilly, Va.
In addition to the five data centers, the transaction includes approximately 250,000 square feet of potential data center development space at the Arizona property as well as $13 million in uninstalled data center infrastructure improvements. The transaction is expected to close on July 2. Credit Suisse Securities and Citi provided financial advising services to Digital Realty Trust in the deal.
In a statement, Digital Realty Trust CEO Michael Foust said, “Upon closing, the addition of these high-quality, mission critical data center facilities to our operating portfolio will further extend our leadership position as the largest wholesale data center provider in the United States. The portfolio is leased to a diverse roster of over 200 tenants in various industries.”
— Coleman Wood