White & Case Advises Digital Realty on Sale of European Data Center Portfolio to Ascendas Reit for US$680 Million
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Global law firm White & Case LLP has advised Digital Realty (NYSE: DLR), a leading global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, on its sale of a portfolio of 11 European data centers to Ascendas Reit, a CapitaLand sponsored REIT, for €569 million, approximately US$680 million.
"We have advised longstanding client Digital Realty on this important strategic transaction," said White & Case partner James Dodsworth, who led the Firm's deal team. "Data Centers continue to be a pillar asset class in the real estate sector and this transaction demonstrates our expertise advising clients on their large, multi-jurisdictional data center deals."
The portfolio is expected to generate 2021 net operating income of €36.4 million, or approximately US$43.5 million. The transaction was signed and closed on 17 March 2021.
The White & Case team which advised on the transaction was led by partner James Dodsworth (London), with support from partners James Pullen, James Johnson, Will Smith, Nicholas Greenacre and Lindsey Canning (all London), Brice Engel and Estelle Philippi (both Paris), local partner Thomas Glauden (Brussels), and associates Finlay Fraser, Samirah Haujee, Victoria Delacey, Wiesia Wagstyl, Lily Teh, Francesca MacSwinney and Michael Hekimian (all London) and Zoé Hannecart (Brussels). External local counsel advised on BVI, Jersey, IoM, NL and Swiss law.
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