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Latham & Watkins Advises Digital Realty on Sale of Data Centers in Germany and the US

October 6, 2022
Cross-border team represents Digital Realty in a sale that enables Digital Core REIT to scale and diversify its portfolio with state-of-the-art freehold facilities powered by renewable energy and concentrated in key global markets.

Digital Realty has announced an agreement with Digital Core REIT, a leading data center REIT sponsored by Digital Realty, to sell a 25% interest in an institutional quality freehold data center in Frankfurt, Germany, valued at €558 million, or approximately US$558 million (at 100% share), with the option to acquire up to an 89.9% interest in the Frankfurt facility and a 90% interest in an institutional quality freehold data center in Dallas, Texas, valued at US$199 million (at 100% share), subject to suitable market conditions.

Latham & Watkins LLP represents Digital Realty in the transaction with a corporate/real estate deal team led by Chicago partner Robert Buday, San Diego Partner Ann Buckingham, and Frankfurt partner Otto von Gruben, with Frankfurt partner Torsten Volkholz, and associates Dustin Paige, Euna Park, and Madeleine Keach. Advice was also provided on tax matters by Los Angeles partner Eric Cho, New York partner Jiyeon Lee-Lim, and Hamburg partner Tobias Klass, with associate Brian Rogers.