Digital Realty Trust competed the £715.9m acquisition of 761,000 sq ft of data centers around London while at the same time completed the acquisition of a 160,000 sq ft site in Hong Kong.
The London deal sees DRT buy much of the assets of Sentrum, a UK group which owns and operates six sites.
The three data centers located in Woking, Watford and Croydon near London are 80% leased and DRT the price paid was “subject to adjustment in limited circumstances and to additional earn-out payments based on a multiple of the net operating income from the lease-up of currently vacant space in the portfolio in the next three years.”
"The portfolio is approximately 80% leased to a diverse roster of high quality companies that we are now pleased to call our customers," said Scott Peterson, Chief Acquisitions Officer for Digital Realty. "In addition, the opportunity to lease the balance of the portfolio's available space is a great opportunity to enhance the return on this investment for our shareholders."
Michael F. Foust, CEO of Digital Realty said: "We now have eight data center facilities located across the greater London metropolitan area, which represent over 50 percent of our European portfolio.”
Separately Digital Realty Trust and Savvis completed of the joint venture acquisition of a 164,000-sq ft (15,236-square-meter) facility in Hong Kong which marks Digital Realty's entrance to the Hong Kong market.
The data centre facility is located at Tseung Kwan O Industrial Estate in New Territories, approximately 12 miles from downtown Hong Kong. Upon redevelopment, the building will be capable of supporting approximately 5.76 megawatts of IT load capacity.
Mike Foust,s aid: "We look forward to redeveloping the facility to provide enterprise-quality data centre space to this important global market."
Kris Kumar, senior vice president and regional head, Asia Pacific, for Digital Realty. "We expect to begin construction at the site in the third quarter of 2012 with the first Turn-Key Flex data centre space delivered mid-2013."