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Digital Realty Picks Up Two Properties in Europe

SAN FRANCISCO-The data center REIT acquires a 51,000-sf facility in London and a 63,000-sf building in Amsterdam.

By Brian K. Miller | Updated on December 18, 2007

SAN FRANCISCO-The locally headquartered data center REIT Digital Realty Trust Inc. recently acquired properties in London and Amsterdam as part of its expansion into Europe. The company acquired a total of 114,000 sf in two buildings for a combined price of $40.3 million, according to SEC filings.

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).

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