0001193125-22-299444.txt : 20221206 0001193125-22-299444.hdr.sgml : 20221206 20221206164046 ACCESSION NUMBER: 0001193125-22-299444 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 21 CONFORMED PERIOD OF REPORT: 20221206 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20221206 DATE AS OF CHANGE: 20221206 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32336 FILM NUMBER: 221448219 BUSINESS ADDRESS: STREET 1: 5707 SOUTHWEST PARKWAY, BUILDING 1 STREET 2: SUITE 275 CITY: AUSTIN STATE: TX ZIP: 78735 BUSINESS PHONE: (737) 281-0101 MAIL ADDRESS: STREET 1: 5707 SOUTHWEST PARKWAY, BUILDING 1 STREET 2: SUITE 275 CITY: AUSTIN STATE: TX ZIP: 78735 FORMER COMPANY: FORMER CONFORMED NAME: Digital Realty Trust, Inc. DATE OF NAME CHANGE: 20040722 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-54023 FILM NUMBER: 221448220 BUSINESS ADDRESS: STREET 1: 5707 SOUTHWEST PARKWAY, BUILDING 1 STREET 2: SUITE 275 CITY: AUSTIN STATE: TX ZIP: 78735 BUSINESS PHONE: 737-281-0101 MAIL ADDRESS: STREET 1: 5707 SOUTHWEST PARKWAY, BUILDING 1 STREET 2: SUITE 275 CITY: AUSTIN STATE: TX ZIP: 78735 FORMER COMPANY: FORMER CONFORMED NAME: Digital Realty Trust, L.P. DATE OF NAME CHANGE: 20100622 8-K 1 d364453d8k.htm 8-K 8-K
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM
8-K
 
 
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 6, 2022
 
 
DIGITAL REALTY TRUST, INC.
DIGITAL REALTY TRUST, L.P.
(Exact name of registrant as specified in its charter)
 
 
 
         
Maryland
Maryland
 
001-32336
000-54023
 
26-0081711
20-2402955
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)
 
         
5707 Southwest Parkway, Building 1, Suite 275
Austin, Texas
 
78735
(Address of principal executive offices)
 
(Zip Code)
(737)
281-0101
(Registrant’s telephone number, including area code)
 
 
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17 CFR
240.14a-12)
 
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
 
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
 
         
Title of each class
 
Trading
symbol(s)
 
Name of each exchange
on which registered
Common Stock   DLR   New York Stock Exchange
Series J Cumulative Redeemable Preferred Stock   DLR Pr J   New York Stock Exchange
Series K Cumulative Redeemable Preferred Stock   DLR Pr K   New York Stock Exchange
Series L Cumulative Redeemable Preferred Stock   DLR Pr L   New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
 
     
Digital Realty Trust, Inc.:
  Emerging growth company   
   
Digital Realty Trust, L.P.:
  Emerging growth company   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Digital Realty Trust, Inc.:  ☐
Digital Realty Trust, L.P.:  ☐
 
 
 

Item 8.01.
Other Events.
On December 6, 2022, Digital Realty Trust, L.P. (“we,” “us,” or “our”) completed an underwritten public offering of an additional $350,000,000 aggregate principal amount of its 5.550% Notes due 2028 (the “Notes”). The Notes were issued as additional notes under a base indenture, dated as of June 23, 2015, by and among Digital Realty Trust, L.P., as issuer, Digital Realty Trust, Inc., as guarantor, and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee, as supplemented by a supplemental indenture, dated as of September 27, 2022, by and among Digital Realty Trust, L.P., Digital Realty Trust, Inc. and the trustee, pursuant to which we previously issued $550,000,000 aggregate principal amount of 5.550% Notes due 2028 (the “initial notes”). The Notes were offered at 99.208% of the principal amount thereof. The Notes are Digital Realty Trust, L.P.’s general unsecured senior obligations and rank equally in right of payment with all of its other unsecured senior indebtedness. However, the Notes are effectively subordinated in right of payment to all of Digital Realty Trust, L.P.’s existing and future secured indebtedness from time to time outstanding and to all existing and future liabilities and preferred equity of Digital Realty Trust, L.P.’s subsidiaries. The Notes bear interest at 5.550% per annum. Interest on the Notes is payable on January 15 and July 15 of each year, beginning on January 15, 2023, until the maturity date of January 15, 2028. Our obligations under the Notes are fully and unconditionally guaranteed by Digital Realty Trust, Inc. The Notes will be treated as a single series of securities with the initial notes under the indenture and will have the same CUSIP number as, and be fungible with, the initial notes. The base indenture and the supplemental indenture contain various restrictive covenants, including limitations on our ability to incur additional indebtedness and requirements to maintain a pool of unencumbered assets. Copies of the base indenture and the supplemental indenture, including the form of the Notes and the guarantee, the terms of which are incorporated herein by reference, are attached as Exhibits 4.1 and 4.2, respectively, to Digital Realty Trust, Inc.’s and Digital Realty Trust, L.P.’s Current Report on Form
 
8-K
 
filed on September 27, 2022. The base indenture as supplemented by the supplemental indenture is referred to herein collectively as the indenture and is summarized below.
Prior to December 15, 2027 (one month prior to the maturity date of the Notes) (the “Par Call Date”), we may redeem the Notes at our option, in whole or in part, at any time from time to time, at a redemption price equal to the greater of: (i) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the notes matured on the Par Call Date) on a semi-annual basis (assuming a
360-day
year consisting of twelve
30-day
months) at the Treasury Rate (as defined in the supplemental indenture) plus 25 basis points less (b) interest accrued to the date of redemption; and (ii) 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date.
On or after the Par Call Date, we may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption date.
Certain events are considered events of default, which may result in the accelerated maturity of the Notes, including:
 
   
default for 30 days in the payment of any installment of interest under the Notes;
 
   
default in the payment of the principal amount or redemption price due with respect to the Notes, when the same becomes due and payable;
 
   
our failure to comply with any of our other agreements in the Notes or the indenture upon receipt by us of notice of such default by the trustee or by holders of not less than 25% in aggregate principal amount of the Notes then outstanding and our failure to cure (or obtain a waiver of) such default within 90 days after we receive such notice;
 
   
failure to pay any indebtedness (other than
non-recourse
indebtedness) that is (a) of Digital Realty Trust, L.P., Digital Realty Trust, Inc., any subsidiary in which Digital Realty Trust, L.P. has invested at least $75,000,000 in capital or any entity in which Digital Realty Trust, L.P. is the general partner, and (b) in an outstanding principal amount in excess of $75,000,000 at final maturity or upon acceleration after the expiration of any applicable grace period, which indebtedness (other than
non-recourse
indebtedness) is not discharged, or such default in payment or acceleration is not cured or rescinded, within 60 days after written notice to us from the trustee (or to us and the trustee from holders of at least 25% in principal amount of the outstanding Notes); and

   
certain events of bankruptcy, insolvency or reorganization, or court appointment of a receiver, liquidator or trustee of Digital Realty Trust, L.P., Digital Realty Trust, Inc. or any significant subsidiary (as defined in the indenture) or any substantial part of their respective property.
The description of the indenture is a summary and is qualified in its entirety by the terms of the indenture.
The offering of the Notes was made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on March 17, 2020 (Registration Nos.
333-237232
and
333-237232-01),
a base prospectus, dated March 17, 2020, included as part of the registration statement, and a prospectus supplement, dated November 29, 2022, filed with the Securities and Exchange Commission pursuant to Rule 424(b) under the Securities Act of 1933, as amended. In connection with the filing of the prospectus supplement, we are filing as Exhibit 5.1 to this Current Report on Form
8-K
an opinion of our counsel, Venable LLP, regarding certain Maryland law issues, and as Exhibit 5.2 to this Current Report on Form
8-K
an opinion of our counsel, Latham & Watkins LLP, regarding the validity of the Notes and related guarantee.
 
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits.
 
     
Exhibit
Number
  
Description
   
  5.1    Opinion of Venable LLP.
   
  5.2    Opinion of Latham & Watkins LLP.
   
23.1    Consent of Venable LLP (included in Exhibit 5.1).
   
23.2    Consent of Latham & Watkins LLP (included in Exhibit 5.2).
   
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.
Date: December 6, 2022
 
     
Digital Realty Trust, Inc.
   
By:  
/s/ Jeannie Lee
   
Jeannie Lee
   
Executive Vice President, General Counsel and Secretary
 
     
Digital Realty Trust, L.P.
   
By:   Digital Realty Trust, Inc.
    Its general partner
   
By:  
/s/ Jeannie Lee
   
Jeannie Lee
   
Executive Vice President, General Counsel
and Secretary
EX-5.1 2 d364453dex51.htm EX-5.1 EX-5.1

Exhibit 5.1

 

LOGO    LOGO

 

 

December 6, 2022

Digital Realty Trust, Inc.

Digital Realty Trust, L.P.

5707 Southwest Parkway

Building 1, Suite 275

Austin, Texas 78735

 

  Re:

Registration Statement on Form S-3 (Registration Nos. 333-237232 and 333-237232-01)

Ladies and Gentlemen:

We have served as Maryland counsel to Digital Realty Trust, Inc., a Maryland corporation (the “Company”), and Digital Realty Trust, L.P., a Maryland limited partnership (the “Operating Partnership”), in connection with certain matters of Maryland law arising out of the registration of $350,000,000 aggregate principal amount of the Operating Partnership’s 5.550% Notes due 2028 (the “Notes”), and the guarantee by the Company of the obligations of the Operating Partnership under the Notes (the “Guarantee”). The Notes and the Guarantee are covered by the above-referenced Registration Statement, and all amendments thereto (the “Registration Statement”), filed by the Company and the Operating Partnership with the United States Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “1933 Act”).

In connection with our representation of the Company and the Operating Partnership, and as a basis for the opinion hereinafter set forth, we have examined originals, or copies certified or otherwise identified to our satisfaction, of the following documents (hereinafter collectively referred to as the “Documents”):

1.     The Registration Statement;

2.     The Prospectus, dated March 17, 2020, as supplemented by a Prospectus Supplement, dated November 29, 2022, filed with the Commission pursuant to Rule 424(b)(2) of the General Rules and Regulations promulgated under the 1933 Act;

3.     The charter of the Company, certified by the State Department of Assessments and Taxation of Maryland (the “SDAT”);

4.     The Eighth Amended and Restated Bylaws of the Company, certified as of the date hereof by an officer of the Company;


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Digital Realty Trust, Inc.

Digital Realty Trust, L.P.

December 6, 2022

Page 2

 

5.     A certificate of the SDAT as to the good standing of the Company, dated as of a recent date;

6.     The Certificate of Limited Partnership of the Operating Partnership, certified by the SDAT;

7.     The Nineteenth Amended and Restated Agreement of Limited Partnership of the Operating Partnership, certified as of the date hereof by an officer of the Company;

8.     A certificate of the SDAT as to the good standing of the Operating Partnership, dated as of a recent date;

9.     Resolutions adopted by the Board of Directors of the Company, in its own capacity and in its capacity as the sole general partner of the Operating Partnership, or by a duly authorized committee thereof, relating to, among other matters, (a) the sale and issuance of the Notes, (b) the Guarantee and (c) the authorization of the execution, delivery and performance by the Company and the Operating Partnership of the Indenture (as defined herein), certified as of the date hereof by an officer of the Company;

10.   The Indenture, dated as of June 23, 2015 (the “Base Indenture”), by and among the Operating Partnership, the Company and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee (the “Trustee”);

11.    Supplemental Indenture No. 5, dated as of September 27, 2022 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), by and among the Operating Partnership, the Company and the Trustee;

12.    The Guarantee contained in the Indenture;

13.    A certificate executed by an officer of the Company, dated as of the date hereof; and

14.    Such other documents and matters as we have deemed necessary or appropriate to express the opinion set forth below, subject to the assumptions, limitations and qualifications stated herein.

In expressing the opinion set forth below, we have assumed the following:

1.    Each individual executing any of the Documents, whether on behalf of such individual or any other person, is legally competent to do so.


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Digital Realty Trust, Inc.

Digital Realty Trust, L.P.

December 6, 2022

Page 3

 

2.    Each individual executing any of the Documents on behalf of a party (other than the Company or the Operating Partnership) is duly authorized to do so.

3.    Each of the parties (other than the Company or the Operating Partnership) executing any of the Documents has duly and validly executed and delivered each of the Documents to which such party is a signatory, and such party’s obligations set forth therein are legal, valid and binding and are enforceable in accordance with all stated terms.

4.    All Documents submitted to us as originals are authentic. The form and content of all Documents submitted to us as unexecuted drafts do not differ in any respect relevant to this opinion from the form and content of such Documents as executed and delivered. All Documents submitted to us as certified or photostatic copies conform to the original documents. All signatures on all Documents are genuine. All public records reviewed or relied upon by us or on our behalf are true and complete. All representations, warranties, statements and information contained in the Documents are true and complete. There has been no oral or written modification of or amendment to any of the Documents, and there has been no waiver of any provision of any of the Documents, by action or omission of the parties or otherwise.

Based upon the foregoing, and subject to the assumptions, limitations and qualifications stated herein, it is our opinion that:

1.    The Company is a corporation duly incorporated and existing under and by virtue of the laws of the State of Maryland and is in good standing with the SDAT. The Operating Partnership is a limited partnership duly formed and existing under and by virtue of the laws of the State of Maryland and is in good standing with the SDAT.

2.    The execution, delivery and performance of the Indenture have been duly authorized by all necessary corporate action of the Company and all necessary limited partnership action of the Operating Partnership. The Notes have been duly authorized for issuance by the Operating Partnership. The Guarantee has been duly authorized by the Company.

3.    The Indenture has been duly executed and delivered by the Company and the Operating Partnership.

The foregoing opinion is limited to the laws of the State of Maryland and we do not express any opinion herein concerning United States federal law or the laws of any other jurisdiction. We express no opinion as to compliance with any federal or state securities laws, including the securities laws of the State of Maryland, or as to federal or state laws regarding fraudulent transfers. To the extent that any matter as to which our opinion is expressed herein


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Digital Realty Trust, Inc.

Digital Realty Trust, L.P.

December 6, 2022

Page 4

 

would be governed by the laws of any jurisdiction other than the State of Maryland, we do not express any opinion on such matter. The opinion expressed herein is subject to the effect of judicial decisions which may permit the introduction of parol evidence to modify the terms or the interpretation of agreements.

The opinion expressed herein is limited to the matters specifically set forth herein and no other opinion shall be inferred beyond the matters expressly stated. We assume no obligation to supplement this opinion if any applicable law changes after the date hereof or if we become aware of any fact that might change the opinion expressed herein after the date hereof.

This opinion is being furnished to you for submission to the Commission as an exhibit to the Company’s Current Report on Form 8-K relating to the Notes and the Guarantee (the “Current Report”), which is incorporated by reference in the Registration Statement. Latham & Watkins LLP, counsel to the Company and the Operating Partnership, may rely on this opinion in connection with any opinions to be delivered by it in connection with the Notes and the Guarantee. We hereby consent to the filing of this opinion as an exhibit to the Current Report and the said incorporation by reference and to the use of the name of our firm therein. In giving this consent, we do not admit that we are within the category of persons whose consent is required by Section 7 of the 1933 Act.

Very truly yours,

/s/ Venable LLP

EX-5.2 3 d364453dex52.htm EX-5.2 EX-5.2

Exhibit 5.2

 

LOGO  

355 South Grand Avenue, Suite 100

Los Angeles, California 90071-1560

Tel: +1.213.485.1234 Fax: +1.213.891.8763

 

www.lw.com

 

FIRM / AFFILIATE OFFICES

 

 

    Austin   Milan
    Beijing   Munich
    Boston   New York
    Brussels   Orange County
    Century City   Paris
    Chicago   Riyadh
December 6, 2022     Dubai   San Diego
    Düsseldorf   San Francisco
    Frankfurt   Seoul
    Hamburg   Shanghai
    Hong Kong   Silicon Valley
    Houston   Singapore
    London   Tel Aviv
    Los Angeles   Tokyo
    Madrid   Washington, D.C.

Digital Realty Trust, Inc.

Digital Realty Trust, L.P.

5707 Southwest Parkway, Building 1, Suite 275

Austin, Texas 78735

 

  Re:

Registration Statement on Form S-3 and Prospectus Supplement; $350,000,000 Aggregate Principal Amount of Digital Realty Trust, L.P.’s 5.550% Notes Due 2028

To the addressees set forth above:

We have acted as special counsel to Digital Realty Trust, Inc., a Maryland corporation (the “Guarantor”), and Digital Realty Trust, L.P., a Maryland limited partnership (the “Operating Partnership”), in connection with the issuance of $350,000,000 aggregate principal amount of the Operating Partnership’s 5.550% Notes due 2028 (the “Additional Notes”) and the guarantee of the Additional Notes (the “Guarantee”) by the Guarantor, under an indenture, dated June 23, 2015 (the “Base Indenture”), among the Operating Partnership, the Guarantor and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee (the “Trustee”), as supplemented by Supplemental Indenture No. 5, dated September 27, 2022, among the Operating Partnership, the Guarantor and the Trustee (the “Supplemental Indenture,” and together with the Base Indenture, the “Indenture”), and pursuant to a registration statement on Form S-3 under the Securities Act of 1933, as amended (the “Act”), filed with the Securities and Exchange Commission (the “Commission”) on March 17, 2020 (Registration Nos. 333-237232 and 333-237232-01) (as so filed and as amended, the “Registration Statement”), a base prospectus, dated March 17, 2020, included as part of the Registration Statement (the “Base Prospectus”), a preliminary prospectus supplement, dated November 29, 2022, filed with the Commission pursuant to Rule 424(b) under the Act, a prospectus supplement, dated November 29, 2022, filed with the Commission pursuant to Rule 424(b) under the Act (together with the Base Prospectus, the “Prospectus”), and an underwriting agreement, dated November 29, 2022 (the “Underwriting Agreement”), among the Operating Partnership, the Guarantor and BofA Securities, Inc. and Citigroup Global Markets Inc. as representatives of the several underwriters named therein.


December 6, 2022

Page 2

 

LOGO

 

For the avoidance of doubt, it is understood and agreed that for purposes of this letter, the term “Additional Notes” shall exclude the $550,000,000 aggregate principle amount of 5.550% Notes due 2028 sold by the Company on September 27, 2022. This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or Prospectus, other than as expressly stated herein with respect to the issue of the Additional Notes and Guarantee.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Operating Partnership, the Guarantor and others as to factual matters without having independently verified such factual matters. We are opining herein as to the internal laws of the State of New York, and we express no opinion with respect to the applicability thereto, or the effect thereon, of the laws of any other jurisdiction or as to any matters of municipal law or the laws of any local agencies within any state. Various issues concerning Maryland law are addressed in the opinion of Venable LLP, which has been separately provided to you. We express no opinion with respect to those matters herein, and to the extent elements of those opinions are necessary to the conclusions expressed herein, we have, with your consent, assumed such matters.

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Additional Notes have been duly executed, issued and authenticated in accordance with the terms of the Indenture and delivered against payment therefor in the circumstances contemplated by the Underwriting Agreement, the Additional Notes and the Guarantee will be legally valid and binding obligations of the Operating Partnership and the Guarantor, respectively, enforceable against the Operating Partnership and the Guarantor in accordance with their respective terms.

Our opinion is subject to: (i) the effect of bankruptcy, insolvency, reorganization, preference, fraudulent transfer, moratorium or other similar laws relating to or affecting the rights and remedies of creditors; (ii) (a) the effect of general principles of equity, whether considered in a proceeding in equity or at law (including the possible unavailability of specific performance or injunctive relief), (b) concepts of materiality, reasonableness, good faith and fair dealing, and (c) the discretion of the court before which a proceeding is brought and (iii) the invalidity under certain circumstances under law or court decisions of provisions providing for the indemnification of or contribution to a party with respect to a liability where such indemnification or contribution is contrary to public policy. We express no opinion as to (a) any provision for liquidated damages, default interest, late charges, monetary penalties, make-whole premiums or other economic remedies to the extent such provisions are deemed to constitute a penalty, (b) consents to, or restrictions upon, governing law, jurisdiction, venue, arbitration, remedies or judicial relief, (c) the waiver of rights or defenses contained in Sections 4.4, 6.13, 12.1(d) and 12.3 of the Base Indenture (except, with respect to Section 12.3, to the extent such waiver is limited to the fullest extent that the Guarantor may do so under applicable law), (d) any provision requiring the payment of attorneys’ fees, where such payment is contrary to law or public policy, (e) any provision permitting, upon acceleration of the Additional Notes, collection of that portion of the stated principal amount thereof which might be determined to constitute unearned interest thereon, (f) the creation, validity, attachment, perfection, or priority of any lien or security interest, (g) advance waivers of claims, defenses, rights granted by law, or notice, opportunity for hearing, evidentiary requirements, statutes of limitation, trial by jury or at law, or other procedural rights, (h) waivers of broadly or vaguely stated rights, (i) provisions for exclusivity, election or cumulation of rights or remedies, (j) provisions authorizing or validating conclusive or discretionary determinations, (k) grants of setoff rights, (l) proxies, powers and trusts, (m) provisions prohibiting, restricting, or requiring consent to assignment or transfer of any right or property, (n) provisions purporting to make a guarantor primarily liable rather than as a surety, (o) provisions purporting to waive modifications of any guaranteed obligation to the extent such modification constitutes a novation, (p) any provision to the extent it requires that a claim with respect to a security denominated in other than U.S. dollars (or a judgment in respect of such a claim) be converted into U.S. dollars at a rate of exchange at a particular date, to the extent applicable law otherwise provides, (q) provisions purporting to make a guarantor primarily liable rather than as a surety and provisions purporting to waive modifications of any guaranteed obligation to the extent such modification constitutes a novation and (r) the severability, if invalid, of provisions to the foregoing effect.


December 6, 2022

Page 3

 

LOGO

 

We express no opinion or confirmation as to federal or state securities laws, tax laws, antitrust or trade regulation laws, insolvency or fraudulent transfer laws, antifraud laws, compliance with fiduciary duty requirements, pension or employee benefit laws, usury laws, environmental laws, margin regulations, FINRA rules or stock exchange rules (without limiting other laws excluded by customary practice).

With your consent, we have assumed (a) that the Indenture, the Guarantee and the Additional Notes (collectively, the “Documents”) will be governed by the internal laws of the State of New York, (b) have been duly authorized, executed and delivered by the parties thereto, (c) that the Documents constitute legally valid and binding obligations of the parties thereto other than the Operating Partnership and the Guarantor, enforceable against each of them in accordance with their respective terms, and (d) that the status of the Documents as legally valid and binding obligations of the parties is not affected by any (i) breaches of, or defaults under, agreements or instruments, (ii) violations of statutes, rules, regulations or court or governmental orders or (iii) failures to obtain required consents, approvals or authorizations from, or make required registrations, declarations or filings with, governmental authorities.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Guarantor’s and the Operating Partnership’s Current Report on Form 8-K, dated December 6, 2022, and to the reference to our firm contained in the Prospectus under the heading “Legal Matters.” In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

 

Sincerely,
/s/ Latham & Watkins LLP
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Cover Page
Dec. 06, 2022
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Dec. 06, 2022
Entity File Number 001-32336
Entity Registrant Name DIGITAL REALTY TRUST, INC.
Entity Incorporation, State or Country Code MD
Entity Tax Identification Number 26-0081711
Entity Address, Address Line One 5707 Southwest Parkway, Building 1, Suite 275
Entity Address, City or Town Austin
Entity Address, State or Province TX
Entity Address, Postal Zip Code 78735
City Area Code 737
Local Phone Number 281-0101
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001297996
Amendment Flag false
Common Stock  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock
Trading Symbol DLR
Security Exchange Name NYSE
Series J Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security Series J Cumulative Redeemable Preferred Stock
Trading Symbol DLR Pr J
Security Exchange Name NYSE
Series K Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security Series K Cumulative Redeemable Preferred Stock
Trading Symbol DLR Pr K
Security Exchange Name NYSE
Series L Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security Series L Cumulative Redeemable Preferred Stock
Trading Symbol DLR Pr L
Security Exchange Name NYSE
Digital Realty Trust L.P.  
Entity Information [Line Items]  
Entity File Number 000-54023
Entity Registrant Name DIGITAL REALTY TRUST, L.P.
Entity Incorporation, State or Country Code MD
Entity Tax Identification Number 20-2402955
Entity Emerging Growth Company false
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