Shearman & Sterling represented Citibank, N.A. as administrative agent and joint lead arranger in connection with $1.85 billion in bridge financing commitments for Digital Realty Trust, L.P.’s pending acquisition of Telx, a national provider of data center colocation, interconnection and cloud enablement solutions. Digital Realty Trust (Ticker: DLR) is a Menlo Park, California-based wholesale colocation service company and the world's largest data center solutions provider with over 130 locations globally that are leased to tenants in the telecommunications infrastructure and technology sectors. As of March 31, 2015, Telx (privately held) managed 1.3 million square feet of data center space operating out of 20 facilities across the country, of which two are Telx-owned, 11 are leased from Digital Realty, one is partially subleased from Digital Realty and an unrelated third party, and six are leased from third parties.
The Shearman & Sterling team included partner Malcolm K. Montgomery (New York-Real Estate), associate Elizabeth Martialay (New York-Real Estate), and associate Andrew Smook (New York-Real Estate).