These transactions, which closed at the end of December, are part of Digital Realty Trust's strategy to grow FFO by investing in income producing facilities in top tier markets," according to Scott Peterson, SVP of Acquisitions. The new datacenters are located near the REIT's existing Northern Virginia facilities and leased to existing DLR customers, expanding the company's footprint in Northern Virginia to 1.2 million rentable square feet.
The land parcel can also accommodate future growth, although it is unlikely the company would begin to develop it until its current local development project is fully leased up, a spokeswoman tells GlobeSt.com. "We have a development project underway at our data center campus in Loudoun County that also has two other developable parcels there so we can continue to provide new supply." Right now, though, the focus is more on acquisitions, she says. Indeed, DRT is on an acquisition tear, having made a total of $197.7 million of such purchases in 2009.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
