IPO Profile

Digital Realty Trust
2730 Sand Hill Road, Suite 280, Menlo Park, California 94025
Tel: 650-233-3600
Web:
Ticker: DLR
Amount Raised: $240,000,000.00

Description:
We own, acquire, reposition and manage technology-related real estate. We target high quality, strategically located properties containing mission-critical applications and operations for technology industry tenants. Our tenant base is diversified within the technology industry and reflects a broad spectrum of regional, national and international tenants that are leaders in their respective areas. We expect to qualify as a REIT for federal income tax purposes beginning with our initial taxable year ending December 31, 2004. Upon completion of this offering and consummation of the formation transactions, we will own 21 properties located throughout the U.S. and one property located in London, England, containing a total of approximately 5.5 million net rentable square feet. Our operations and acquisition activities are focused on a limited number of markets where technology tenants are concentrated, including the Atlanta, Boston, Dallas, Denver, Los Angeles, Miami, New York, Phoenix, San Francisco and Silicon Valley metropolitan areas. As of March 31, 2004, our properties were approximately 87.5% leased at an average annualized rent per leased square foot of $20.08. The property types within our focus include: � telecommunications infrastructure properties, which provide the infrastructure required by companies in the data, voice and wireless communications industries; � information technology, or IT, infrastructure properties, which provide the physical environment required for disaster recovery, IT outsourcing and collocation; � technology manufacturing properties, which contain highly specialized manufacturing environments for such purposes as disk drive manufacturing, semiconductor manufacturing and specialty pharmaceutical manufacturing; and � regional or national headquarters of technology companies that are located in our target markets.