Digital Realty Trust, LP (NYSE listed) has completed the sale and transfer of a 24.9% interest in data centers located in Frankfurt, Germany, to Digital Core REIT (Singapore listed) for EUR 118 million.

The transaction was structured as a sale and transfer of 24.9% of the shares in Digital Greenfield B.V., which owns the Frankfurt data centers, by Digital Germany Holding, LLC (a subsidiary of Digital Realty Trust, LP) to Singapore 5 Pte. Ltd. (a subsidiary of Digital Core REIT), together with an equivalent percentage participation interest in an existing EUR 300 million unsecured intercompany revolving loan facility between Digital Euro Finco L.P., a subsidiary of Digital Realty Trust, LP (as lender) and the Digital Greenfield B.V. (as borrower).

As of completion of the transaction, Digital Core REIT (through its subsidiary) has a 49.9% interest in the Frankfurt data centers. The remaining 50.1% is be held by (a subsidiary of) Digital Realty Trust, LP.

De Brauw advised Digital Realty in this transaction.