EX-99.1 2 dex991.htm PAGES 7 AND 14 TO SUPPLEMENTAL OPERATING AND FINANCIAL DATA Pages 7 and 14 to Supplemental Operating and Financial Data

Exhibit 99.1

DIGITAL REALTY TRUST, INC.

First Quarter 2009

Consolidated Balance Sheets (1)

(Dollars in thousands, except share data)

 

     March 31, 2009     December 31, 2008  
     (unaudited)        

ASSETS

    

Investments in real estate

    

Land

   $ 314,077      $ 316,318   

Acquired ground leases

     2,670        2,733   

Buildings and improvements

     2,577,169        2,467,830   

Tenant improvements

     252,549        255,818   
                

Investments in real estate

     3,146,465        3,042,699   

Accumulated depreciation and amortization

     (337,663     (302,960
                

Net investments in properties

     2,808,802        2,739,739   

Investment in unconsolidated joint venture

     8,597        8,481   
                

Net investments in real estate

     2,817,399        2,748,220   

Cash and cash equivalents

     78,936        73,334   

Accounts and other receivables, net

     37,923        39,108   

Deferred rent

     110,913        99,957   

Acquired above market leases, net

     29,638        31,352   

Acquired in place lease value and deferred leasing costs, net

     219,228        222,389   

Deferred financing costs, net

     14,787        16,275   

Restricted cash

     31,234        45,470   

Other assets

     11,555        4,940   
                

Total Assets

   $ 3,351,613      $ 3,281,045   
                

LIABILITIES AND STOCKHOLDERS’ EQUITY

    

Revolving credit facility

   $ 254,021      $ 138,579   

Unsecured senior notes

     83,000        58,000   

Mortgage loans

     939,807        1,026,594   

4.125% exchangeable senior debentures due 2026

     162,860        161,901   

Accounts payable and other accrued liabilities

     139,606        171,176   

Accrued dividends and distributions

     —          26,092   

Acquired below market leases, net

     72,075        76,660   

Security deposits and prepaid rents

     54,168        46,967   
                

Total Liabilities

     1,705,537        1,705,969   
                

Commitments and contingencies

     —          —     

EQUITY:

    

Stockholders’ equity:

    

Preferred Stock: $0.01 par value, 30,000,000 authorized:

    

Series A Cumulative Redeemable Preferred Stock, 8.50%, $103,500,000 liquidation preference ($25.00 per share), 4,140,000 issued and outstanding

     99,297        99,297   

Series B Cumulative Redeemable Preferred Stock, 7.875%, $63,250,000 liquidation preference ($25.00 per share), 2,530,000 issued and outstanding

     60,502        60,502   

Series C Cumulative Convertible Preferred Stock, 4.375%, $175,000,000 liquidation preference ($25.00 per share), 6,999,995 issued and outstanding

     169,067        169,068   

Series D Cumulative Convertible Preferred Stock, 5.500%, $345,000,000 liquidation preference ($25.00 per share), 13,795,500 issued and outstanding

     333,472        333,581   

Common Stock; $0.01 par value: 125,000,000 authorized, 76,042,511 and 73,306,703 shares issued and outstanding as of March 31, 2009 and December 31, 2008, respectively

     758        732   

Additional paid-in capital

     1,142,483        1,057,107   

Dividends in excess of earnings

     (181,645     (166,863

Accumulated other comprehensive income, net

     (58,827     (49,503
                

Total stockholders’ equity

     1,565,107        1,503,921   
                

Noncontrolling interests:

    

Noncontrolling interest in operating partnership

     64,986        66,797   

Noncontrolling interest in consolidated joint venture

     15,983        4,358   
                

Total noncontrolling interests

     80,969        71,155   
                

Total Equity

     1,646,076        1,575,076   
                

Total Liabilities and Equity

   $ 3,351,613      $ 3,281,045   
                

 

(1) Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009 (see footnote 1 on page 6).

 

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DIGITAL REALTY TRUST, INC.

First Quarter 2009

Consolidated Debt Analysis

(unaudited, in thousands)

 

     Maturity Date         Principal Balance
as of

March 31, 2009
    % of Debt     Interest Rate as of
March 31, 2009
    Interest Rate as of
March 31, 2009
including swaps
 

Unhedged Floating Rate Debt

            

Revolving credit facility

   August 31, 2012   (1 )     254,021     17.7 %   1.80 %   2.79 %
                      
       $ 254,021     17.7 %    

Fixed Rate Mortgage Debt and Hedged Floating Rate Debt

            

Secured Term Debt

   November 11, 2014       145,869     10.2 %   5.65 %   —    

3 Corporate Place

   August 1, 2013   (1 )     80,000     5.6 %   6.72 %   —    

200 Paul Avenue 1-4

   October 8, 2015       78,945     5.5 %   5.74 %   —    

2045 & 2055 LaFayette Street

   February 6, 2017       67,851     4.7 %   5.93 %   —    

Mundells Roundabout

   November 30, 2013       61,338     4.3 %   2.85 %   4.18 %

600 West Seventh Street

   March 15, 2016       56,499     3.9 %   5.80 %   —    

2323 Bryan Street

   November 6, 2009       54,831     3.8 %   6.04 %   —    

34551 Ardenwood Boulevard 1-4

   November 11, 2016       55,000     3.8 %   5.95 %   —    

1100 Space Park Drive

   December 11, 2016       55,000     3.8 %   5.89 %   —    

150 South First Street

   February 6, 2017       53,178     3.7 %   6.30 %   —    

114 Rue Ambroise Croizat

   January 18, 2012       42,156     2.9 %   2.86 %   5.13 %

1500 Space Park Drive

   October 5, 2013       43,253     3.0 %   6.15 %   —    

2334 Lundy Place

   November 11, 2016       40,000     2.8 %   5.96 %   —    

Unit 9, Blanchardstown Corporate Park

   January 18, 2012       36,244     2.5 %   2.86 %   5.35 %

6 Braham Street

   April 10, 2011       18,906     1.3 %   2.55 %   5.84 %

Paul van Vlissingenstraat 16

   July 18, 2013       14,228     1.0 %   3.11 %   5.58 %

Chemin de l’Epinglier 2

   July 18, 2013       10,333     0.7 %   3.01 %   5.57 %

1125 Energy Park Drive

   March 1, 2032       9,301     0.6 %   7.62 %   —    

Gyroscoopweg 2E-2F

   October 18, 2013       9,057     0.6 %   3.01 %   5.49 %

731 East Trade Street

   July 1, 2020       5,470     0.4 %   8.22 %   —    
                      
       $ 937,459     65.1 %    

4.125 % exchangeable senior debentures due 2026

   August 15, 2026       172,500     12.0 %   4.13 %   —    

Unsecured senior notes — Series A

   July 24, 2011       25,000     1.7 %   7.00 %   —    

Unsecured senior notes — Series B

   November 5, 2013       33,000     2.3 %   9.32 %   —    

Unsecured senior notes — Series C

   January 6, 2016       25,000     1.7 %   9.68 %   —    

Total Fixed Rate Debt Including Swaps

       $ 1,192,959     82.8 %    

Unamortized discount on 4.125% exchangeable senior debentures due 2026

      (9,640 )   (0.7 %)    

Unamortized Loan premium—1125 Energy Park Drive, 731 East Trade Street and 1500 Space Park Drive mortgages

      2,348     0.2 %    
                      

Total Consolidated Debt

       $ 1,439,688     100.0 %    
                      

Weighted average cost of debt (including interest rate swaps)

          5.55 %
                

 

(1) Assumes all extensions will be exercised.

Credit Facility

(in thousands)

 

     Maximum Available
as of
March 31, 2009
   Available as of
March 31, 2009
   Drawn as of
March 31, 2009

Revolving Credit Facility

   $ 675,000    $ 407,500    $ 254,021

Note: Increased to $720,000 on April 28, 2009.

 

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