14. Subsequent Events

On October 5, 2017, the Company paid its regular quarterly cash dividend of $0.39 per common share and per unit in the Operating Partnership to stockholders and unit holders of record as of the close of business on September 22, 2017.

Additionally, in October 2017, the Company completed the following transactions:

The Company completed the acquisition of approximately 92 acres of land in Hillsboro, Oregon at a purchase price of approximately $26 million.

The Company completed the acquisition of approximately 28 acres of land in Ashburn, Virginia for approximately $36 million.

The Company completed the buyout of its Vault Campus in Dulles, Virginia. The Company previously leased the property under a capital lease agreement of approximately $17.8 million and purchased it for approximately $34.1 million cash, for a net purchase price of $16.3 million.

The Operating Partnership, Quality Tech, LP, and QTS Finance Corporation (collectively, the “Issuers”), the Company and certain of its other subsidiaries entered into a purchase agreement pursuant to which the Issuers expect to issue $400 million aggregate principal amount of 4.75% senior notes due November 15, 2025 (the “Notes”) in a private offering. The Notes will have an interest rate of 4.750% per annum and will be issued at a price equal to 100% of their face value. The net proceeds from the offering are expected to be used to fund the redemption of, and satisfy and discharge the indenture pursuant to which the Issuers issued, all of their outstanding 5.875% Senior Notes due 2022 and to repay a portion of the amount outstanding under the Company’s unsecured revolving credit facility. The Notes will be offered and sold only to qualified institutional buyers in the U.S. pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons outside the U.S. pursuant to Regulation S under the Securities Act. The Company will pay one-time fees in the fourth quarter of 2017 associated with issuance of the Notes, including a call premium to redeem the 5.875% Senior Notes due 2022.