Profile: DuPont Fabros Technology Inc (DFT)
23 May 2013
DuPont Fabros Technology, Inc. (DFT) is a real estate investment trust (REIT). The Company is an integrated, self-administered and self-managed company that owns, acquires, develops and operates wholesale data centers. As of December 31, 2011, the Company owned 76.7% interest in DuPont Fabros Technology, L.P. (the Operating Partnership). The Company is an owner, developer, operator and manager of data center facilities leased to tenants under long-term leases-commonly referred to as wholesale data centers. The Company’s data centers are used by the national and international technology companies, including Microsoft, Yahoo!, Facebook and Google to house, power and cool the computer servers. In June 2011, the Company purchased an undeveloped parcel of land, which consisted of approximately 23 acres.
Through the Company’s REIT subsidiary, DF Technical Services, LLC, it also provides certain technical services to its tenants as a contractor on a purchase order basis, including layout design and installation of electrical power circuits, data cabling, server cabinets and racks, computer room airflow analyses and monitoring and other services requested by its tenants. The Company derives substantially all of its revenue from rents received from tenants under existing leases at each of the Company’s operating properties. The Company’s operating and development properties are located in the Northern Virginia; suburban Chicago, Illinois; Piscataway, New Jersey, and Santa Clara, California markets.
As of December 31, 2011, the Company held a fee simple interest in 10 operating data centers, referred to as ACC2, ACC3, ACC4, ACC5, ACC6 Phase I, VA3, VA4, CH1 Phase I, NJ1 Phase I and SC1 Phase. On September 1, 2011, ACC6 Phase I was placed in service. On October 1, 2011, SC1 Phase I was placed in service. CH1 Phase II was placed in service on February 1, 2012. During the year ended December 31, 2011, the Company executed 14 leases and pre-leases, which consisted total of 24.92 megawatts of critical load and 133,716 raised square feet with an average lease term of 7.9 years. As of December 31, 2011, the Company’s portfolio was leased to 31 data center tenants.
DuPont Fabros Technology Inc
Suite 900, 1212 New York Avenue,
WASHINGTON DC 20005