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Digital Realty Signs Lease with National Australia Bank for First Building at New Melbourne, Australia Data Centre Development Site
Nov 21, 2011 (03:11 PM EST)
SYDNEY, Nov. 21, 2011 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data centre solutions, announced today that it has signed a long term, Turn-Key Datacentre lease with National Australia Bank ("NAB") for the first of two buildings at its newly acquired development site in Melbourne, Australia. The lease was signed in the fourth quarter of 2011. The new 5,000 square meter data centre facility is scheduled for completion in early 2013.
"We are very pleased to partner with NAB on this strategically important facility. It represents both our long term customer commitment as well as our long term investment strategy in the Australian data centre market," said Michael F. Foust, Chief Executive Officer for Digital Realty.
"Melbourne, like Sydney, has a limited supply of resilient, scalable data centre space available to meet customer demand for these highly reliable, flexible and secure facilities," said Kris Kumar, Regional Head, Asia Pacific, for Digital Realty Trust. "This project for NAB will be one of two Digital Realty Tier 3 certified data centres built in Australia, as defined by the Uptime Institute. The second Tier 3 certified facility will be our data centre at our Erskine Park development site in Sydney."
Each Digital Realty Trust Turn-Key Datacentre® facility is physically secure and features a state-of-the-art power and cooling architecture that has been optimized for green operation. Every Turn-Key Datacentre is built using the Company's proprietary POD Architecture® and uses metered power to ensure that clients pay only for the power that they use. The facility also comes standard with Digital Realty Trust's PowerVU software, which enables centralized monitoring and management of data centre power consumption, energy efficiency and load analysis.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. focuses on delivering customer driven data centre solutions by providing secure, reliable and cost effective facilities that meet each customer's unique data centre needs. Digital Realty's customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty's 98 properties, excluding three properties held as investments in unconsolidated joint ventures, comprise approximately 17.4 million square feet as of October 27, 2011, including 2.1 million square feet of space held for redevelopment. Digital Realty's portfolio is located in 31 markets throughout Europe, North America, Singapore and Australia. Additional information about Digital Realty is included in the Company Overview, which is available on the Investors page of Digital Realty's website at http://www.digitalrealty.com.
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the acquisition of the development site in Melbourne, Australia, plans for construction at the site, expected timing for completion of development plans, expected IT capacity of the development, and supply and demand in the Melbourne market. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions including the downgrading of the U.S. government's credit rating; current local economic conditions in our geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing; increased interest rates and operating costs; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings or our breach of covenants or other terms contained in our loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; our inability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully integrate and operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data centre space; our inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; our inability to comply with the rules and regulations applicable to reporting companies; our failure to maintain our status as a REIT; possible adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of our insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including changes in real estate and zoning laws and increases in real property tax rates. For a further list and description of such risks and uncertainties, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2010 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Digital Realty Trust, Inc.