CORRESP

0001193125-14-269218.txt : 20140813 0001193125-14-269218.hdr.sgml : 20140813 20140715162655 ACCESSION NUMBER: 0001193125-14-269218 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20140715 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Digital Realty Trust, Inc. CENTRAL INDEX KEY: 0001297996 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 260081711 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: FOUR EMBARCADERO CENTER STREET 2: SUITE 3200 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: (415)738-6500 MAIL ADDRESS: STREET 1: FOUR EMBARCADERO CENTER STREET 2: SUITE 3200 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Digital Realty Trust, L.P. CENTRAL INDEX KEY: 0001494877 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 202402955 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: FOUR EMBARCADERO CENTER STREET 2: SUITE 3200 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 415-738-6500 MAIL ADDRESS: STREET 1: FOUR EMBARCADERO CENTER STREET 2: SUITE 3200 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 CORRESP 1 filename1.htm CORRESP


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July 15, 2014


VIA EDGAR
United States Securities and Exchange Commission Division of Corporation Finance
100 F Street, N.E.
Washington, D.C. 20549-3628 Attention: Kristi Marrone

Re:

Digital Realty Trust, Inc.

Amendment 1 to Form 10-K for fiscal year ended December 31, 2013

Filed March 4, 2014

File No. 1-32336

Digital Realty Trust, L.P.

Amendment 1 to Form 10-K for fiscal year ended December 31, 2013

Filed March 4, 2014

File No. 0-54023

Dear Ms. Marrone:

This letter sets forth the response of Digital Realty Trust, Inc. and Digital Realty Trust, L.P. (collectively, the “Subject Companies”) to the comments received on June 30, 2014 from the staff (the “Staff”) of the Division of Corporation Finance of the United States Securities and Exchange Commission (the “Commission”) regarding Amendment 1 to the Form 10-K (the “2013 Form 10-K”) filed by the Subject Companies on March 4, 2014.

For ease of review, we have set forth below the numbered comment of the Staff in its letter dated June 30, 2014 and the Subject Companies’ response thereto.

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Results of Operations, page 65

1.	Please include a discussion of the gain on contribution of investment properties to unconsolidated joint venture in your MD&A in future filings, as this gain had a significant impact on net income.

Response: In response to the Staff’s comment, the Subject Companies intend to include disclosure in future filings substantially similar to the following:

“During the twelve months ended December 31, 2013, we recognized a gain of $115.6 million related to the contribution of nine properties to a newly formed joint venture with an investment fund managed by

July 15, 2014

Page 2

LOGO

Prudential Real Estate Investors (PREI^®). We received net proceeds of $328.6 million in connection with this transaction and retained a 20% interest in the joint venture. During the three months ended March 31, 2014, we recognized a gain of $1.9 million related to the contribution of one property to the PREI joint venture. We received net proceeds of $11.4 million in connection with this transaction and retained our 20% interest in the joint venture.”

* * *

Please do not hesitate to contact me by telephone at (713) 546-7459 with any questions or comments regarding this correspondence.

Very truly yours,

/s/ Keith Benson

Keith Benson

of Latham & Watkins LLP

cc:	Joshua A. Mills, Digital Realty Trust, Inc. and Digital Realty Trust, L.P.

Julian T. Kleindorfer, Latham & Watkins LLP

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