Digital Realty Trust, Inc. - 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on July 17, 2008, by Digital Realty Trust, Inc., a Maryland corporation. The report discloses a specific financing event involving an indirect subsidiary, Digital Piscataway, LLC.
Key Financial Metrics
The filing details a new secured mortgage financing arrangement but does not provide consolidated revenue, profit, cash flow, or margin data for the reporting period.
- Financing Amount: $80 million
- Property: 3 Corporate Place, Piscataway, New Jersey
- Interest Rate: 6.72% per year
- Maturity Date: August 1, 2011
- Extensions: Subject to two one-year extensions upon satisfaction of certain conditions
Material Changes
The primary material change is the execution of the $80 million secured mortgage. The filing does not provide comparative financial data against prior periods to assess broader material changes in operations or liquidity.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future outlook, or specific risk factors beyond the standard terms of the loan. The loan is contingent on the satisfaction of certain conditions for extension.
Investor Verification Checklist
- Verify the specific conditions required to exercise the two one-year loan extensions.
- Confirm the current occupancy status and lease terms of 3 Corporate Place to assess debt service coverage.
- Review the company's total debt load to understand the impact of this $80 million addition on overall leverage.
- Check for any subsequent filings regarding the performance of this specific asset or refinancing activities.