Long-term data centre lease at Digital Realty's Redhill facility provides up to 840 kW of capacity
LONDON, March 12, 2012 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE:DLR, news, filings), a leading global provider of data centre solutions, has signed a new 840 kW lease with Source Managed Services Limited (Source) , a data centre co-location and managed services provider, for its Redhill facility in suburban London. The lease is scheduled to commence on 1 June 2012.
The new lease enables Source to build upon its data centre offering within the London area. It will use the facility to deliver high-quality, private managed services to its customer base of mid-to-large-sized organisations, including enterprises and hosting providers. It has already signed an agreement with a major UK software company to situate its IT resources at the new facility.
Commenting on the agreement, Fenton Bard, Director at Source said: "This lease represents a significant step for Source in terms of the facilities and the level of service we can offer. We see the quality, security and reliability of Digital Realty's facilities as a natural fit for the standard of service we strive to deliver to our own customers, and we are confident that the relationship will prove invaluable as we continue to grow our offering in the future."
Adam Levine, Vice President, Europe at Digital Realty, added: "We are pleased to work with a company that is as well-established and well-regarded as Source. This transaction highlights the full range of resources we are able to offer as a global data centre provider, from financing options to guidance on the technical aspects of designing and operating a data centre environment."
Source's new data centre will be supported by dedicated power and cooling infrastructure provided as part of Digital Realty's POD Architecture® data centre design, ensuring that the facility remains operationally independent. The site offers diverse, dedicated, high-speed network connections to the central London area.
The terms of the data centre lease enable Source to offer customers greater control over the cost of managing their IT resources on an ongoing basis. Source will also benefit from the lower energy costs associated with Digital Realty's facility.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. focuses on delivering customer driven data centre solutions by providing secure, reliable and cost effective facilities that meet each customer's unique 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 102 properties, excluding three properties held as investments in unconsolidated joint ventures, comprise approximately 19.1 million square feet (1.8 million square meters) as of 27 February 2012, including 2.4 million square feet (222,000 square meters) 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 .
Source Managed Services Limited provides specialist consultancy services focused on the design, procurement, supply and management of data centres, colocation and networks. It offers both wholesale and enterprise services (including disaster recovery services, intelligent data networks, Internet services and managed data centre services), to a customer base of international media, finance and Internet businesses, as well as Internet Service Providers (ISP) and Managed Service Providers (MSP). With over 15 years' industry experience, Source has established a reputation for the quality of its service and independent guidance. Source helps its customers gain a better understanding of the future demand they are likely to face and select and design new data centre facilities accordingly, as well as advising on how to make optimal use of their existing facilities.
Safe Harbor Statement
This press release contains forward-looking statements which are based on Digital Realty Trust, Inc.'s 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 new lease with Source. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions, including the downgrade of the U.S. government's credit rating; current local economic conditions in its geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in its industry or the industry sectors that it sells to (including risks relating to decreasing real estate valuations and impairment charges); its 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; its failure to obtain necessary debt and equity financing; increased interest rates and operating costs; risks associated with using debt to fund its business activities, including re-financing and interest rate risks, its failure to repay debt when due, adverse changes in its credit ratings or its breach of covenants or other terms contained in its loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; its inability to manage its growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; its failure to successfully integrate and operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of its 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 center space; its inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; its inability to acquire off-market properties; its inability to comply with the rules and regulations applicable to reporting companies; its failure to maintain its status as a REIT; possible adverse changes to tax laws; restrictions on its ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of its 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 Digital Realty Trust, Inc. with the U.S. Securities and Exchange Commission, including Digital Realty Trust, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2011. Digital Realty Trust, Inc. 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|
SOURCE Digital Realty Trust, Inc.