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Investments In Real Estate (Tables)
12 Months Ended
Dec. 31, 2013
Business Acquisition [Line Items]  
Summary Of Investment Properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2013

 

 

(in thousands)

Property Type

 

Land

 

Acquired Ground Lease

 

Building and Improvements (1)

 

Tenant Improvements

 

Accumulated Depreciation and Amortization

 

Net Investments in Properties

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet Gateway Datacenters

 

$          117,863

 

$                  -

 

$         1,466,490

 

$          100,481

 

$           (474,646)

 

$         1,210,188

Corporate Datacenters

 

534,776 

 

13,296 

 

7,031,664 

 

382,219 

 

(1,051,306)

 

6,910,649 

Technology Manufacturing

 

29,147 

 

1,322 

 

75,546 

 

5,938 

 

(24,044)

 

87,909 

Technology Office

 

9,840 

 

 -

 

52,031 

 

1,854 

 

(10,858)

 

52,867 

Other

 

2,165 

 

 -

 

54,946 

 

 -

 

(5,142)

 

51,969 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$          693,791

 

$        14,618

 

$         8,680,677

 

$          490,492

 

$        (1,565,996)

 

$         8,313,582

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2012

 

 

(in thousands)

Property Type

 

Land

 

Acquired Ground Lease

 

Building and Improvements (1)

 

Tenant Improvements

 

Accumulated Depreciation and Amortization

 

Net Investment in Properties

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet Gateway Datacenters

 

$          117,304

 

$                  -

 

$         1,406,586

 

$            97,007

 

$           (399,060)

 

$         1,221,837

Corporate Datacenters

 

516,016 

 

12,336 

 

6,108,420 

 

300,426 

 

(773,449)

 

6,163,749 

Technology Manufacturing

 

20,602 

 

1,322 

 

66,396 

 

5,938 

 

(22,175)

 

72,083 

Technology Office

 

4,971 

 

 -

 

34,585 

 

1,459 

 

(7,958)

 

33,057 

Other

 

2,165 

 

 -

 

46,986 

 

 -

 

(3,375)

 

45,776 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$          661,058

 

$        13,658

 

$         7,662,973

 

$          404,830

 

$        (1,206,017)

 

$         7,536,502

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Balance includes, as of December 31, 2013 and 2012, $1,053.2 million and $777.3 million of direct and accrued costs associated with construction in progress, respectively.

 

Schedule Of Real Estate Property Acquisitions

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

 

 

 

 

 

 

 

 

 

 

 

 

Location

 

Metropolitan Area

 

Date Acquired

 

Amount (in millions) (1)

17201 Waterview Parkway

 

Dallas, Texas

 

January 31, 2013

 

$                 8.5

1900 S. Price Road

 

Phoenix, Arizona

 

January 31, 2013

 

24.0 

371 Gough Road

 

Toronto, Canada

 

March 12, 2013

 

8.4 

1500 Towerview Road

 

Minneapolis, Minnesota

 

March 27, 2013

 

37.0 

CarTech (2)

 

London, England

 

April 2, 2013

 

3.6 

MetCenter Business Park (3)

 

Austin, Texas

 

May 20, 2013

 

31.9 

Liverpoolweg 10 (4)

 

Amsterdam, Netherlands

 

June 27, 2013

 

3.9 

Saito Industrial Park (2)

 

Osaka, Japan

 

August 9, 2013

 

9.6 

Principal Park (2)

 

London, England

 

September 23, 2013

 

19.3 

De President, Hoofddorp (2)

 

Amsterdam, Netherlands

 

September 24, 2013

 

6.7 

636 Pierce Street (5)

 

New York Metro

 

December 19, 2013

 

35.3 

Total Acquisitions -- Year Ended December 31, 2013

 

 

 

 

 

$             188.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Location

 

Metropolitan Area

 

Date Acquired

 

Amount (in millions) (1)

Convergence Business Park (6)

 

Dallas, Texas

 

February 22, 2012

 

$             123.0

9333, 9355, 9377 Grand Avenue (7)

 

Chicago, Illinois

 

May 10, 2012

 

22.3 

8025 North Interstate 35 (8)

 

Austin, Texas

 

May 18, 2012

 

12.5 

400 S. Akard Street

 

Dallas, Texas

 

June 13, 2012

 

75.0 

Sentrum Portfolio (9)

 

London, England

 

July 11, 2012

 

1,138.6 

11900 East Cornell Avenue

 

Denver, Colorado

 

September 14, 2012

 

90.8 

701 Union Boulevard

 

New York Metro

 

November 1, 2012

 

16.8 

23 Waterloo Road

 

Sydney, Australia

 

December 19, 2012

 

12.3 

Paris Portfolio (10)

 

Paris, France

 

December 27, 2012

 

79.4 

Total Acquisitions -- Year Ended December 31, 2012

 

 

 

 

 

$          1,570.7

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Purchase prices are all in U.S. dollars and exclude capitalized closing costs on land acquisitions. Purchase prices for acquisitions outside the United States are based on the exchange rate at the date of acquisition.

(2)

Represents currently vacant land which is not included in our operating property count.

(3)

MetCenter Business Park consists of three buildings at 8201 E. Riverside Drive and three buildings at 7401 E. Ben White Boulevard in the Austin metropolitan area. MetCenter Business Park is considered one property for our property count.

(4)

Acquisition of a partially-built data center in Groningen, Netherlands for a purchase price of $3.9 million. We paid an additional $2.6 million in October 2013 upon completion of construction by the tenant, with the final payment of $1.4 million made in December 2013.

(5)

In connection with the acquisition, we assumed a $26.4 million secured mortgage loan.

 

 

(6)

Convergence Business Park is comprised of nine buildings along with undeveloped land. It is considered one property for our property count. 

(7)

9333, 9355, 9377 Grand Avenue is comprised of three buildings. It is considered one property for our property count.

(8)

In connection with the acquisition, we assumed a $6.7 million secured mortgage loan.

(9)    On July 11, 2012, we completed the acquisition of a three-property data center portfolio, totaling approximately 733,000 square feet, located in the greater London area, referred to as the Sentrum Portfolio. The purchase price was £734.6 million (equivalent to approximately $1.1 billion based on the July 11, 2012 exchange rate of £1.00 to $1.55).  In addition, non-cash consideration of £56.5 million (or $87.6 million based on the July 11, 2012 exchange rate of £1.00 to $1.55) was recorded as the expected fair value of contingent consideration as required by prevailing accounting guidance.  There was also a non-cash purchase adjustment related to deferred taxes, which amounted to £68.6 million (or $106.3 million based on the July 11, 2012 exchange rate of £1.00 to $1.55).  The purchase price was paid in cash funded with proceeds from our common stock offering in July 2012 along with borrowings under our global revolving credit facility.

 

(10)

The Paris Portfolio consists of 1 Rue Jean-Pierre, 127 Rue de Paris and Liet-dit le Christ de Saclay located in the Paris metropolitan area. The Paris Portfolio is considered three properties for our property count.

 

 

 

 

Purchase Price Allocation

 

 

 

 

 

 

 

 

 

 

 

 

 

Location

 

Investments in Real Estate

 

Above-Market Lease

 

In-Place Lease

 

Below-Market Lease

 

Debt Premium

 

Acquisition Date Fair-Value

17201 Waterview Parkway

 

$                8,479

 

$                  -

 

$          2,108

 

$            (2,087)

 

$                  -

 

$        8,500

1900 S. Price Road

 

22,354 

 

 -

 

1,646 

 

 -

 

 -

 

24,000 

371 Gough Road

 

8,072 

 

12 

 

351 

 

 -

 

 -

 

8,435 

1500 Towerview Road

 

30,244 

 

 -

 

6,756 

 

 -

 

 -

 

37,000 

CarTech

 

3,599 

 

 -

 

 -

 

 -

 

 -

 

3,599 

MetCenter Business Park

 

28,918 

 

191 

 

4,840 

 

(2,049)

 

 -

 

31,900 

Liverpoolweg 10

 

3,855 

 

 -

 

 -

 

 -

 

 -

 

3,855 

Saito Industrial Park

 

9,649 

 

 -

 

 -

 

 -

 

 -

 

9,649 

Principal Park

 

19,253 

 

 -

 

 -

 

 -

 

 -

 

19,253 

De President, Hoofddorp

 

6,737 

 

 -

 

 -

 

 -

 

 -

 

6,737 

636 Pierce Street

 

33,425 

 

 -

 

5,110 

 

(1,645)

 

(1,640)

 

35,250 

Total

 

$            174,585

 

$             203

 

$        20,811

 

$            (5,781)

 

$         (1,640)

 

$    188,178

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average remaining intangible
    amortization life (in months)

 

 

 

32 

 

108 

 

98 

 

112 

 

 

 

Schedule Of Pro Forma Operating Revenues And Operating Income

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Year ended

 

  

Operating

  

Operating

 

 

Revenues

 

Income

 

  

(in millions)

Supplemental pro forma for the periods ended December 31, 2013 (1)

  

$

1,489.2 

  

$

385.5 

Supplemental pro forma for the periods ended December 31, 2012 (1)

  

 

1,296.3 

  

 

371.7 

 

 

 

 

 

(1)

These unaudited pro forma results do not purport to be indicative of what operating results would have been had the acquisitions occurred on January 1, 2012, and may not be indicative of future operating results.

 

Digital Realty Trust, L.P. [Member]
 
Business Acquisition [Line Items]  
Summary Of Investment Properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2013

 

 

(in thousands)

Property Type

 

Land

 

Acquired Ground Lease

 

Building and Improvements (1)

 

Tenant Improvements

 

Accumulated Depreciation and Amortization

 

Net Investments in Properties

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet Gateway Datacenters

 

$          117,863

 

$                  -

 

$         1,466,490

 

$          100,481

 

$           (474,646)

 

$         1,210,188

Corporate Datacenters

 

534,776 

 

13,296 

 

7,031,664 

 

382,219 

 

(1,051,306)

 

6,910,649 

Technology Manufacturing

 

29,147 

 

1,322 

 

75,546 

 

5,938 

 

(24,044)

 

87,909 

Technology Office

 

9,840 

 

 -

 

52,031 

 

1,854 

 

(10,858)

 

52,867 

Other

 

2,165 

 

 -

 

54,946 

 

 -

 

(5,142)

 

51,969 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$          693,791

 

$        14,618

 

$         8,680,677

 

$          490,492

 

$        (1,565,996)

 

$         8,313,582

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2012

 

 

(in thousands)

Property Type

 

Land

 

Acquired Ground Lease

 

Building and Improvements (1)

 

Tenant Improvements

 

Accumulated Depreciation and Amortization

 

Net Investment in Properties

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet Gateway Datacenters

 

$          117,304

 

$                  -

 

$         1,406,586

 

$            97,007

 

$           (399,060)

 

$         1,221,837

Corporate Datacenters

 

516,016 

 

12,336 

 

6,108,420 

 

300,426 

 

(773,449)

 

6,163,749 

Technology Manufacturing

 

20,602 

 

1,322 

 

66,396 

 

5,938 

 

(22,175)

 

72,083 

Technology Office

 

4,971 

 

 -

 

34,585 

 

1,459 

 

(7,958)

 

33,057 

Other

 

2,165 

 

 -

 

46,986 

 

 -

 

(3,375)

 

45,776 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$          661,058

 

$        13,658

 

$         7,662,973

 

$          404,830

 

$        (1,206,017)

 

$         7,536,502

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Balance includes, as of December 31, 2013 and 2012, $1,053.2 million and $777.3 million of direct and accrued costs associated with construction in progress, respectively.

 

Schedule Of Real Estate Property Acquisitions

 

 

 

 

 

 

 

 

 

 

Acquisitions

 

 

 

 

 

 

 

 

 

 

 

 

 

Location

 

Metropolitan Area

 

Date Acquired

 

Amount (in millions) (1)

17201 Waterview Parkway

 

Dallas, Texas

 

January 31, 2013

 

$                 8.5

1900 S. Price Road

 

Phoenix, Arizona

 

January 31, 2013

 

24.0 

371 Gough Road

 

Toronto, Canada

 

March 12, 2013

 

8.4 

1500 Towerview Road

 

Minneapolis, Minnesota

 

March 27, 2013

 

37.0 

CarTech (2)

 

London, England

 

April 2, 2013

 

3.6 

MetCenter Business Park (3)

 

Austin, Texas

 

May 20, 2013

 

31.9 

Liverpoolweg 10 (4)

 

Amsterdam, Netherlands

 

June 27, 2013

 

3.9 

Saito Industrial Park (2)

 

Osaka, Japan

 

August 9, 2013

 

9.6 

Principal Park (2)

 

London, England

 

September 23, 2013

 

19.3 

De President, Hoofddorp (2)

 

Amsterdam, Netherlands

 

September 24, 2013

 

6.7 

636 Pierce Street (5)

 

New York Metro

 

December 19, 2013

 

35.3 

Total Acquisitions -- Year Ended December 31, 2013

 

 

 

 

 

$             188.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Location

 

Metropolitan Area

 

Date Acquired

 

Amount (in millions) (1)

Convergence Business Park (6)

 

Dallas, Texas

 

February 22, 2012

 

$             123.0

9333, 9355, 9377 Grand Avenue (7)

 

Chicago, Illinois

 

May 10, 2012

 

22.3 

8025 North Interstate 35 (8)

 

Austin, Texas

 

May 18, 2012

 

12.5 

400 S. Akard Street

 

Dallas, Texas

 

June 13, 2012

 

75.0 

Sentrum Portfolio (9)

 

London, England

 

July 11, 2012

 

1,138.6 

11900 East Cornell Avenue

 

Denver, Colorado

 

September 14, 2012

 

90.8 

701 Union Boulevard

 

New York Metro

 

November 1, 2012

 

16.8 

23 Waterloo Road

 

Sydney, Australia

 

December 19, 2012

 

12.3 

Paris Portfolio (10)

 

Paris, France

 

December 27, 2012

 

79.4 

Total Acquisitions -- Year Ended December 31, 2012

 

 

 

 

 

$          1,570.7

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Purchase prices are all in U.S. dollars and exclude capitalized closing costs on land acquisitions. Purchase prices for acquisitions outside the United States are based on the exchange rate at the date of acquisition.

(2)

Represents currently vacant land which is not included in our operating property count.

(3)

MetCenter Business Park consists of three buildings at 8201 E. Riverside Drive and three buildings at 7401 E. Ben White Boulevard in the Austin metropolitan area. MetCenter Business Park is considered one property for our property count.

(4)

Acquisition of a partially-built data center in Groningen, Netherlands for a purchase price of $3.9 million. We paid an additional $2.6 million in October 2013 upon completion of construction by the tenant, with the final payment of $1.4 million made in December 2013.

(5)

In connection with the acquisition, we assumed a $26.4 million secured mortgage loan.

 

 

(6)

Convergence Business Park is comprised of nine buildings along with undeveloped land. It is considered one property for our property count. 

(7)

9333, 9355, 9377 Grand Avenue is comprised of three buildings. It is considered one property for our property count.

(8)

In connection with the acquisition, we assumed a $6.7 million secured mortgage loan.

(9)    On July 11, 2012, we completed the acquisition of a three-property data center portfolio, totaling approximately 733,000 square feet, located in the greater London area, referred to as the Sentrum Portfolio. The purchase price was £734.6 million (equivalent to approximately $1.1 billion based on the July 11, 2012 exchange rate of £1.00 to $1.55).  In addition, non-cash consideration of £56.5 million (or $87.6 million based on the July 11, 2012 exchange rate of £1.00 to $1.55) was recorded as the expected fair value of contingent consideration as required by prevailing accounting guidance.  There was also a non-cash purchase adjustment related to deferred taxes, which amounted to £68.6 million (or $106.3 million based on the July 11, 2012 exchange rate of £1.00 to $1.55).  The purchase price was paid in cash funded with proceeds from our common stock offering in July 2012 along with borrowings under our global revolving credit facility.

 

(10)

The Paris Portfolio consists of 1 Rue Jean-Pierre, 127 Rue de Paris and Liet-dit le Christ de Saclay located in the Paris metropolitan area. The Paris Portfolio is considered three properties for our property count.

 

 

 

 

Purchase Price Allocation

 

 

 

 

 

 

 

 

 

 

 

 

 

Location

 

Investments in Real Estate

 

Above-Market Lease

 

In-Place Lease

 

Below-Market Lease

 

Debt Premium

 

Acquisition Date Fair-Value

17201 Waterview Parkway

 

$                8,479

 

$                  -

 

$          2,108

 

$            (2,087)

 

$                  -

 

$        8,500

1900 S. Price Road

 

22,354 

 

 -

 

1,646 

 

 -

 

 -

 

24,000 

371 Gough Road

 

8,072 

 

12 

 

351 

 

 -

 

 -

 

8,435 

1500 Towerview Road

 

30,244 

 

 -

 

6,756 

 

 -

 

 -

 

37,000 

CarTech

 

3,599 

 

 -

 

 -

 

 -

 

 -

 

3,599 

MetCenter Business Park

 

28,918 

 

191 

 

4,840 

 

(2,049)

 

 -

 

31,900 

Liverpoolweg 10

 

3,855 

 

 -

 

 -

 

 -

 

 -

 

3,855 

Saito Industrial Park

 

9,649 

 

 -

 

 -

 

 -

 

 -

 

9,649 

Principal Park

 

19,253 

 

 -

 

 -

 

 -

 

 -

 

19,253 

De President, Hoofddorp

 

6,737 

 

 -

 

 -

 

 -

 

 -

 

6,737 

636 Pierce Street

 

33,425 

 

 -

 

5,110 

 

(1,645)

 

(1,640)

 

35,250 

Total

 

$            174,585

 

$             203

 

$        20,811

 

$            (5,781)

 

$         (1,640)

 

$    188,178

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average remaining intangible
    amortization life (in months)

 

 

 

32 

 

108 

 

98 

 

112 

 

 

 

Schedule Of Pro Forma Operating Revenues And Operating Income

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Year ended

 

  

Operating

  

Operating

 

 

Revenues

 

Income

 

  

(in millions)

Supplemental pro forma for the periods ended December 31, 2013 (1)

  

$

1,489.2 

  

$

385.5 

Supplemental pro forma for the periods ended December 31, 2012 (1)

  

 

1,296.3 

  

 

371.7 

 

 

 

 

 

(1)

These unaudited pro forma results do not purport to be indicative of what operating results would have been had the acquisitions occurred on January 1, 2012, and may not be indicative of future operating results.