How is the Digital Realty Trust REIT structured?
We are structured as an umbrella partnership real estate investment trust, or UPREIT. In a typical UPREIT, contributors of properties or, in certain cases, interests in entities that own properties and a newly-formed REIT, are partners in a partnership that is referred to as an Operating Partnership. In connection with our formation, partners of existing partnerships contributed properties and interests in partnerships that own properties, and we contributed the cash proceeds from our public offering to our Operating Partnership, in exchange for interests, or units, in the Operating Partnership. We are the general partner of the Operating Partnership.
