The first property, Cressex 1, is located in suburban London and totals approximately 51,000 sf that Digital Realty plans to renovate. The purchase price was $13.8 million (6.5 million pounds). The Company plans to build 20,000 sf of raised floor data center space and 15,000 sf of supporting office space. Construction is scheduled to commence in the first quarter of 2008 with completion expected by September 2008.

The second property, Naritaweg 52, is located in Amsterdam. The 63,000-sf facility was purpose built as a data center in 2001 and includes 24,000 sf of raised-floor space and 21,000 sf of office space. The building is 100% leased through September 2011 to a leading international information technology services company. The purchase price was $27.22 million (18.9 million Euros).

"We are continuing to see strong demand from customers seeking turn-key data center space in the London market, where supply remains very limited," says Digital Realty SVP Chris Crosby. "Redeveloping Cressex 1 gives us an opportunity to bring…space to the supply-constrained London market much more quickly than if we were to develop a facility from the ground up -- meeting the current demand while avoiding much of the risk associated with greenfield developments."