Investments in Real Estate (Tables)

9 Months Ended

Sep. 30, 2016

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

We acquired the following real estate properties during the nine months ended September 30, 2016:

Location	Market	Date Acquired	Amount (in millions)
Sovereign House	London	July 5, 2016	(1)
West Drayton	London	July 5, 2016	(1)
Olivers Yard	London	July 5, 2016	(1)
Bonnington House	London	July 5, 2016	(1)
Meridian Gate	London	July 5, 2016	(1)
Amsterdam Business Park	Amsterdam	July 5, 2016	(1)
Amsterdam Science Park	Amsterdam	July 5, 2016	(1)
Lyonerstrasse	Frankfurt	July 5, 2016	(1)
Land parcels (2)	Various	Various	$	47.6
Total			$	866.5

(1) On July 5, 2016, the company completed the acquisition of a portfolio of eight high-quality, carrier-neutral data centers in Europe from Equinix, which we refer to as the Europe Portfolio Acquisition. The purchase price was $818.9 million in the aggregate (based on the exchange rate at the date of acquisition).

(2) Represents currently vacant land which is not included in our operating property count. We completed four acquisitions of land parcels in the three months ended September 30, 2016 in Northern Virginia, Dallas and Chicago. Purchase price in U.S. dollars and excludes capitalized closing costs on land acquisitions.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the preliminary purchase price allocation for the properties acquired during the nine months ended September 30, 2016 (in thousands):

Location	Investments in Real Estate		Intangibles		Above / Below-Market Lease (Lessee)		Goodwill		Accounts Payable and Accrued Expenses			Deferred Taxes
Europe Portfolio	$	308,692	$	226,077	$	8,089	$	448,123	$	(118,647	)	$	(53,449	)

Disposal Groups, Including Discontinued Operations

We sold the following real estate property during the nine months ended September 30, 2016:

Location	Market	Date Sold	Gross Proceeds (in millions)		Gain on Sale (in millions)
47700 Kato Road and 1055 Page Avenue	Silicon Valley	January 21, 2016	$	37.5	$	1.0
Data center portfolio (1)	Various	July 11, 2016	114.5		24.5
114 Rue Ambroise Croizat (2)	Paris	August 1, 2016	212.0		144.3
			$	364.0	$	169.8

(1) On July 11, 2016, the Company closed on the sale of a four-property data center portfolio, including two in St. Louis and two in Northern Virginia totaling over 454,000 square feet for approximately $114.5 million. The Company recognized a gain on the sale of approximately $24.5 million in the third quarter of 2016. The four properties were classified as held for sale as of June 30, 2016.

(2) The Company granted Equinix an option to acquire the Company's facility in 114 rue Ambroise Croizat in Paris. Equinix elected to exercise its option to acquire the Paris property, and on July 2, 2016, the Company entered into an agreement to sell the property to Equinix for approximately €190 million (or approximately $212 million based on the exchange rate as of August 1, 2016). The Paris property sale closed on August 1, 2016. The Company recognized a gain on the sale of approximately $144.3 million in the third quarter of 2016. This property was classified as held for sale as of June 30, 2016.