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Investments In Real Estate (Tables)
9 Months Ended
Sep. 30, 2012
Business Acquisition [Line Items]  
Schedule Of Real Estate Property Acquisitions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Location

 

Metropolitan Area

 

Date Acquired

 

Amount (in millions)

Convergence Business Park (1)

 

Dallas, Texas

 

February 22, 2012

 

$              123.0

9333, 9355, 9377 Grand Avenue (2)

 

Chicago, Illinois

 

May 10, 2012

 

22.3 

8025 North Interstate 35 (3)

 

Austin, Texas

 

May 18, 2012

 

12.5 

400 S. Akard Street

 

Dallas, Texas

 

June 13, 2012

 

75.0 

Sentrum Portfolio (4)

 

London, England

 

July 11, 2012

 

1,138.6 

11900 East Cornell Avenue

 

Denver, Colorado

 

September 14, 2012

 

90.8 

 

 

 

 

 

 

$           1,462.2

 

 

 

(1)

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

(2)

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

(3)

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

(4)    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), which includes an £18.7 million (equivalent to approximately $29.0 million based on the July 11, 2012 exchange rate of £1.00 to $1.55) adjustment in the purchase price to reflect amounts associated with the early repayment of property debt.  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.

Summary Of Acquired Intangible Assets And Liabilities Expected Weighted Average Useful Lives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Balance as of

 

(Amounts in thousands)

  

September 30,
2012

 

 

December 31,
2011

 

Acquired in place lease value:

  

 

 

 

 

 

 

 

Gross amount

  

$

708,968 

  

 

$

545,409 

  

Accumulated amortization

  

 

(351,596 

 

 

(312,499 

 

  

 

 

 

 

 

 

 

Net

  

$

357,372 

  

 

$

232,910 

  

 

  

 

 

 

 

 

 

 

Acquired above-market lease value:

  

 

 

 

 

 

 

 

Gross amount

  

$

134,079 

  

 

$

87,800 

  

Accumulated amortization

  

 

(65,810 

 

 

(58,099 

 

  

 

 

 

 

 

 

 

Net

  

$

68,269 

  

 

$

29,701 

  

 

  

 

 

 

 

 

 

 

Acquired below-market lease value:

  

 

 

 

 

 

 

 

Gross amount

  

$

283,543 

  

 

$

201,275 

  

Accumulated amortization

  

 

(130,667 

 

 

(115,456 

 

  

 

 

 

 

 

 

 

Net

  

$

152,876 

  

 

$

85,819 

  

 

  

 

 

 

 

 

 

 

 

Schedule Of Pro Forma Operating Revenues And Operating Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Three months ended

 

  

Nine months ended

 

 

  

Operating
Revenues

 

  

Operating
Income

 

  

Operating
Revenues

 

  

Operating
Income

 

 

  

(in millions)

 

  

(in millions)

 

Supplemental pro forma for the periods ended September 30, 2012 (1)

  

$

345.9 

  

  

$

98.4 

  

  

$

995.9 

  

  

$

297.8 

  

Supplemental pro forma for the periods ended September 30, 2011 (1)

  

 

305.4 

  

  

 

84.1 

  

  

 

887.1 

  

  

 

260.5 

  

 

 

 

 

(1)

These unaudited pro forma results do not purport to be indicative of what operating results would have been had the acquisition occurred on January 1, 2011, and may not be indicative of future operating results. The pro forma results exclude transaction expenses.

 

Digital Realty Trust, L.P. [Member]
 
Business Acquisition [Line Items]  
Schedule Of Real Estate Property Acquisitions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Location

 

Metropolitan Area

 

Date Acquired

 

Amount (in millions)

Convergence Business Park (1)

 

Dallas, Texas

 

February 22, 2012

 

$              123.0

9333, 9355, 9377 Grand Avenue (2)

 

Chicago, Illinois

 

May 10, 2012

 

22.3 

8025 North Interstate 35 (3)

 

Austin, Texas

 

May 18, 2012

 

12.5 

400 S. Akard Street

 

Dallas, Texas

 

June 13, 2012

 

75.0 

Sentrum Portfolio (4)

 

London, England

 

July 11, 2012

 

1,138.6 

11900 East Cornell Avenue

 

Denver, Colorado

 

September 14, 2012

 

90.8 

 

 

 

 

 

 

$           1,462.2

 

 

 

(1)

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

(2)

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

(3)

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

(4)    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), which includes an £18.7 million (equivalent to approximately $29.0 million based on the July 11, 2012 exchange rate of £1.00 to $1.55) adjustment in the purchase price to reflect amounts associated with the early repayment of property debt.  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.

Summary Of Acquired Intangible Assets And Liabilities Expected Weighted Average Useful Lives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Balance as of

 

(Amounts in thousands)

  

September 30,
2012

 

 

December 31,
2011

 

Acquired in place lease value:

  

 

 

 

 

 

 

 

Gross amount

  

$

708,968 

  

 

$

545,409 

  

Accumulated amortization

  

 

(351,596 

 

 

(312,499 

 

  

 

 

 

 

 

 

 

Net

  

$

357,372 

  

 

$

232,910 

  

 

  

 

 

 

 

 

 

 

Acquired above-market lease value:

  

 

 

 

 

 

 

 

Gross amount

  

$

134,079 

  

 

$

87,800 

  

Accumulated amortization

  

 

(65,810 

 

 

(58,099 

 

  

 

 

 

 

 

 

 

Net

  

$

68,269 

  

 

$

29,701 

  

 

  

 

 

 

 

 

 

 

Acquired below-market lease value:

  

 

 

 

 

 

 

 

Gross amount

  

$

283,543 

  

 

$

201,275 

  

Accumulated amortization

  

 

(130,667 

 

 

(115,456 

 

  

 

 

 

 

 

 

 

Net

  

$

152,876 

  

 

$

85,819 

  

 

  

 

 

 

 

 

 

 

 

Schedule Of Pro Forma Operating Revenues And Operating Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Three months ended

 

  

Nine months ended

 

 

  

Operating
Revenues

 

  

Operating
Income

 

  

Operating
Revenues

 

  

Operating
Income

 

 

  

(in millions)

 

  

(in millions)

 

Supplemental pro forma for the periods ended September 30, 2012 (1)

  

$

345.9 

  

  

$

98.4 

  

  

$

995.9 

  

  

$

297.8 

  

Supplemental pro forma for the periods ended September 30, 2011 (1)

  

 

305.4 

  

  

 

84.1 

  

  

 

887.1 

  

  

 

260.5 

  

 

 

 

 

(1)

These unaudited pro forma results do not purport to be indicative of what operating results would have been had the acquisition occurred on January 1, 2011, and may not be indicative of future operating results. The pro forma results exclude transaction expenses.

 

Sentrum Portfolio [Member]
 
Business Acquisition [Line Items]  
Summary Of Acquired Intangible Assets And Liabilities Expected Weighted Average Useful Lives

 

 

 

 

 

 

 

 

 

  

  

Sentrum Portfolio

 

  

 

 

Acquired in place lease value

  

 

11.5 years

  

  

 

 

  

Acquired above market leases

  

 

7.3 years

  

  

 

 

  

Acquired below market leases

  

 

11.0 years

  

  

 

 

  

 

Sentrum Portfolio [Member] | Digital Realty Trust, L.P. [Member]
 
Business Acquisition [Line Items]  
Summary Of Acquired Intangible Assets And Liabilities Expected Weighted Average Useful Lives

 

 

 

 

 

 

 

 

 

  

  

Sentrum Portfolio

 

  

 

 

Acquired in place lease value

  

 

11.5 years

  

  

 

 

  

Acquired above market leases

  

 

7.3 years

  

  

 

 

  

Acquired below market leases

  

 

11.0 years