According to William Stein, CEO of Digital Realty, the firm pressed on its competitive advantages in Q1. On the firm’s recent Q1 earnings call, he said that the company “capitalized on the strength of our comprehensive multiproduct offering by capturing healthy enterprise demand across multiple regions.”
He also said the REIT advanced its private capital initiative by closing its joint venture with Brookfield and further strengthened its balance sheet by locking in fixed rate long-term capital at attractive coupons.
“We continued to build upon our industry-leading commitment to sustainability and sound corporate governance, setting the stage for sustainable growth for all stakeholders. We further expanded our global platform with strategic land purchases in Tokyo and Singapore, as shown here on Page 3 of our presentation, and finally, we announced earlier this afternoon that we are entering Chile, Digital Realty’s 14th country, with a 6-megawatt facility underway slated for delivery in the third quarter of 2020. Our strategy for new market entry is to follow our customers, and Chile is no exception. We are pleased to be supporting the growth of a leading global cloud provider who will be anchoring the first phase of our campus in Santiago.”
He explained that Chile is one of the most economically and politically stable countries in South America and is considered a high-income economy by the World Bank with a clearly quantified business-friendly investment climate and the highest per capita GDP in Latin America. “Our Chilean operations will be conducted by the Ascenty joint venture with Brookfield, our exclusive vehicle for data center investment in South America. It’s obviously still early days since we just closed on the acquisition of Ascenty in December and the joint venture with Brookfield at the tail end of the first quarter, but and we are encouraged by our partnership with Brookfield, the early execution by the Ascenty team and the compelling growth opportunity within the region.”
He noted that the company also continued to advance its ESG priorities over the past few months. “In January, we issued the first-ever data center green euro bond. Late January, we announced a long-term renewable power purchase agreement to secure 80 megawatts of solar power on behalf of Facebook to support their renewable energy goals. In late February, our Board of Directors submitted our corporate governance guidelines to clarify that director-candidate pools must include candidates with diversity of race, ethnicity and gender. Finally, our Board also approved a proxy access standard for stockholders in late February.”
Lastly, he noted that the firm is committed to sustainability and sound corporate governance principles and are focused on delivering sustainable growth for our customers, shareholders and employees.