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Digital Realty Purchases Data Center Portfolio For $874M

Digital Realty Data Center

Digital Realty Trust has closed the deal on eight European data centers from internet service provider Equinix for $874M.

The San Francisco REIT announced the deal in May, and ended up paying 13 times the expected price for the portfolio—which is comprised of properties in London, Amsterdam and Frankfurt that total 213k SF of sellable area and 24.4 megawatts of IT load, Commercial Property Executive reports.

Equinix—which acquired TelecityGroup for $3.8B in January—agreed to unload the data centers as part of conditions set forth by the European Commission for the acquisition to go through. As part of the deal, Equinix will acquire Digital Realty’s Paris facility for $211M; the deal is expected to close in Q3. [CPE]