Digital Realty Trust Buys Remaining Interest in Datacenter Park Dallas for $53.2M

Digital Realty Trust, Inc. has acquired the non-controlling ownership interest in the entity that owns Datacenter Park Dallas from its joint venture partner for $53.2 million.

In connection with the acquisition, Digital Realty Trust repaid in full the secured debt on the property for approximately $16.2 million. The acquisition and the repayment were financed with borrowings under its revolving credit facility.

Digital Realty Trust acquired a 60 percent joint venture interest in the 69-acre property in September 2009, and immediately began construction on the first phase of the redevelopment.

The Datacenter Park consists of seven buildings totaling 797,000 square feet, ranging in size from 15,000 square feet to 250,000 square feet. The property is located in the Telecom Corridor in Richardson, TX, and also contains several developable land sites.

In March 2010, Digital Realty Trust said the first customers that will establish datacenters at the property include a FORTUNE 500 global company and a leading IT services provider.

Read the original story at CityBiz Real Estate
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