Acquired Intangible Assets And Liabilities

12 Months Ended

Dec. 31, 2012

Acquired Intangible Assets And Liabilities

5. Acquired Intangible Assets and Liabilities

The following summarizes our acquired intangible assets (acquired in place lease value and acquired above-market lease value) and intangible liabilities (acquired below-market lease value) as of December 31, 2012 and December 31, 2011.

	Balance as of
(Amounts in thousands)	December 31, 2012	December 31, 2011
Acquired in place lease value:
Gross amount	$          720,373	$          545,409
Accumulated amortization	(367,088)	(312,499)
Net	$          353,285	$          232,910
Acquired above market leases:
Gross amount	$          134,480	$            87,800
Accumulated amortization	(69,425)	(58,099)
Net	$            65,055	$            29,701
Acquired below market leases:
Gross amount	$          285,509	$          201,275
Accumulated amortization	(137,276)	(115,456)
Net	$          148,233	$            85,819

Amortization of acquired below-market lease value, net of acquired above-market lease value, resulted in an increase to rental revenues of $10.3 million and $7.9 million for the years ended December 31, 2012 and 2011, respectively. The expected average remaining lives for acquired below market leases and acquired above market leases is 7.2 years and 5.3 years, respectively, as of December 31, 2012. Estimated annual amortization of acquired below-market lease value, net of acquired above-market lease value, for each of the five succeeding years, commencing January 1, 2013 is as follows:

(Amounts in thousands)
2013	$         11,540
2014	9,618
2015	8,620
2016	7,357
2017	5,915

Amortization of acquired in place lease value (a component of depreciation and amortization expense) was $54.0 million and $52.7 million for the years ended December 31, 2012 and 2011, respectively. The expected average amortization period for acquired in place lease value is 7.3 years as of December 31, 2012. The weighted average remaining contractual life for acquired leases excluding renewals or extensions is 5.8 years as of December 31, 2012. Estimated annual amortization of acquired in place lease value for each of the five succeeding years, commencing January 1, 2013 is as follows:

(Amounts in thousands)
2013	$         57,924
2014	53,138
2015	44,450
2016	41,686
2017	28,029

Digital Realty Trust, L.P. [Member]

Acquired Intangible Assets And Liabilities

5. Acquired Intangible Assets and Liabilities

The following summarizes our acquired intangible assets (acquired in place lease value and acquired above-market lease value) and intangible liabilities (acquired below-market lease value) as of December 31, 2012 and December 31, 2011.

	Balance as of
(Amounts in thousands)	December 31, 2012	December 31, 2011
Acquired in place lease value:
Gross amount	$          720,373	$          545,409
Accumulated amortization	(367,088)	(312,499)
Net	$          353,285	$          232,910
Acquired above market leases:
Gross amount	$          134,480	$            87,800
Accumulated amortization	(69,425)	(58,099)
Net	$            65,055	$            29,701
Acquired below market leases:
Gross amount	$          285,509	$          201,275
Accumulated amortization	(137,276)	(115,456)
Net	$          148,233	$            85,819

Amortization of acquired below-market lease value, net of acquired above-market lease value, resulted in an increase to rental revenues of $10.3 million and $7.9 million for the years ended December 31, 2012 and 2011, respectively. The expected average remaining lives for acquired below market leases and acquired above market leases is 7.2 years and 5.3 years, respectively, as of December 31, 2012. Estimated annual amortization of acquired below-market lease value, net of acquired above-market lease value, for each of the five succeeding years, commencing January 1, 2013 is as follows:

(Amounts in thousands)
2013	$         11,540
2014	9,618
2015	8,620
2016	7,357
2017	5,915

Amortization of acquired in place lease value (a component of depreciation and amortization expense) was $54.0 million and $52.7 million for the years ended December 31, 2012 and 2011, respectively. The expected average amortization period for acquired in place lease value is 7.3 years as of December 31, 2012. The weighted average remaining contractual life for acquired leases excluding renewals or extensions is 5.8 years as of December 31, 2012. Estimated annual amortization of acquired in place lease value for each of the five succeeding years, commencing January 1, 2013 is as follows:

(Amounts in thousands)
2013	$         57,924
2014	53,138
2015	44,450
2016	41,686
2017	28,029