Digital Realty acquires development site in Suburban Dublin
- At February 8, 2012
- In Data Centres
PRESS RELEASE –
DIGITAL REALTY ACQUIRES DEVELOPMENT SITE IN SUBURBAN DUBLIN
Development site to provide inventory for future development
London, England – 08th February 2012 – Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data centre solutions, announced that it has acquired a 10-acre development site in Dublin, Ireland. The property is located in Profile Park, approximately 15 miles southwest of Dublin International Airport. The site is capable of supporting the phased development of approximately 11.5 megawatts of data centre space across four buildings, totaling approximately 193,000 square feet of space.
“Dublin remains an important data centre market for both local and multinational corporations, including large technology and Internet companies as well as IT service providers,” said Michael F. Foust, Chief Executive Officer of Digital Realty. “Using our phased development approach, this site will enable us to support our customers’ expanding data centre needs by bringing data centre space online efficiently in terms of both time and cost.”
“Dublin has an ideal climate for deploying an indirect air optimisation design. This significantly improves a data centre’s energy efficiency by lowering its PUE (power utilisation efficiency) and therefore its total cost of occupancy. We expect to achieve PUEs of around 1.15 in our Profile Park facility, a substantial reduction from the electrical consumption typically required for cooling a data centre,” added Adam Levine, Vice President, Sales for Digital Realty. “The acquisition of this site enables us to provide customers with both large and smaller requirements through a variety of flexible data centre solutions to meet their needs. Our Turn-Key Datacentres have a six-year record of 99.999% uptime. For our customers, this means they can focus on their operations while we maintain and operate the supporting power and cooling systems for maximum resiliency.”
Willie Norse of Agar, digital real estate consultants acting on behalf of the owners of Profile Park, commented, “We are delighted to welcome a company of the calibre of Digital Realty to Profile Park. Their strategic decision to locate here further endorses Profile Park’s reputation as ’Ireland’s Datacenter Cluster’, particularly in light of the recent, similarly sized acquisition by Google in the Park and also the expansion of Microsoft’s existing data center and the arrival of Telecity to the location. Profile Park is very definitely one of the most active locations in the European data centre marketplace at present, as a consequence of a number of factors including its world class fibre provision, temperate climate allowing for efficient cooling, and attractive fiscal and legal structures in Ireland.”
Welcoming today’s announcement IDA Ireland CEO, Barry O’Leary said “Digital Realty’s proposal to provide a substantial new data centre footprint in Dublin will be a great addition to the existing infrastructure here and strongly enhances Ireland’s attractiveness as a leading location for international services activity. The new site will deploy the latest eco-friendly technology, which when complemented with Irish weather conditions, will result in one of the most energy efficient facilities in the world. IDA Ireland warmly welcomes Digital Realty’s investment and looks forward to working closely with the company in the future.”
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. focuses on delivering customer driven data centre solutions by providing secure, resilient and cost effective facilities that meet each customer’s unique data centre needs. Digital Realty’s customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty’s 101 properties, excluding three properties held as investments in unconsolidated joint ventures, comprise approximately 18.3 million net rentable square feet as of 30 January 2012, including 2.4 million square feet of space held for redevelopment. Digital Realty’s portfolio is located in 31 markets throughout Europe, North America, Singapore and Australia. Additional information about Digital Realty is included in the Company Overview, which is available on the Investors page of Digital Realty’s website at http://www.digitalrealty.com.
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the acquisition of the development site in Profile Park, Dublin, Ireland, plans for development at the site, expected size and IT capacity of the development, expected PUEs, and supply and demand in the greater Dublin market. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions, including the downgrading of the U.S. government’s credit rating; current local economic conditions in our geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing; increased interest rates and operating costs; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings or our breach of covenants or other terms contained in our loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; our inability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully integrate and operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data centre space; our inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; our inability to comply with the rules and regulations applicable to reporting companies; our failure to maintain our status as a REIT; possible adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of our insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including changes in real estate and zoning laws and increases in real property tax rates. For a further list and description of such risks and uncertainties, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2010 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011, June 30, 2011 and September 30, 2011. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For Additional Information:
A. William Stein Pamela M. Garibaldi Adam Levine
Chief Financial Officer and Vice President, Investor Relations Vice President, Sales
Chief Investment Officer and Corporate Marketing Digital Realty Trust, Inc.
Digital Realty Trust, Inc. Digital Realty Trust, Inc. +44 (20) 7954 9120
+1 (415) 738-6500 +1 (415) 738-6500
