On April 23, 2019, we completed the acquisition of two data centers in the Netherlands (the “Netherlands facilities”) for approximately $44 million in cash consideration, including closing costs. The two facilities, in Groningen and Eemshaven, have approximately 160,000 square feet of raised floor capacity and 30 megawatts of combined gross power capacity built out and fully available. This acquisition was funded with a draw on our unsecured revolving credit facility.

The acquisition was accounted for as an asset acquisition. The purchase price allocation of the Netherlands facilities is a fair value estimate that utilized Level 2 and Level 3 inputs, including discounted future cash flows and observable market data on replacement costs, leasing rates, and discount rates that were used to measure the acquired assets and liabilities on a non-recurring basis.

The following table summarizes the consideration for the Netherlands facilities and the allocation of the fair value of assets acquired and liabilities assumed at the acquisition date (unaudited and in thousands):


	Purchase Price Allocation		Weighted Avg Remaining Useful Life (in years)
Land	$	1,743	N/A
Buildings and improvements		8,640	24
Construction in progress		29,902	N/A
Acquired intangibles (In-place lease & above market lease)		2,911	3
Deferred costs		906	3
Other assets		128	3
Net Working Capital		554	N/A
Total identifiable assets acquired		44,784

Acquired below market lease		284	3
Total liabilities assumed		284

Net identifiable assets acquired	$	44,500