Digital Realty (DLR) announces $1.4 billion asset sale and JV agreement.

Digital Realty Trust (DLR) announced today that it has reached an agreement to sell 10 data center properties to affiliates of Mapletree Investments Pte Ltd., a Singapore-based investment company.  The $557 million purchase price represents an approximate 6.6% cap rate on 2020 NOI.  In addition, DLR expects to sell an 80% interest in three hyper-scale data centers to Mapletree for $811 million, representing a 6.0% cap rate.  Digital Realty will continue to operate and manage the three facilities on behalf of the JV.

DLR said that total proceeds of approximately $1.4 billion represent "an important step towards our goal of self-funding our growth and diversifying our sources of equity capital."

Digital Realty Trust, Inc. (DLR) is a global technology REIT that owns, develops and operates data center properties in 36 markets throughout North America, Europe, Asia and Australia.  DLR is a member of the S&P 500 and has a current enterprise value of approximately $38 billion.