As you may have read, in June we announced the definitive agreement under which DuPont Fabros Technology (DFT) would merge with Digital Realty. I am pleased to report that our respective shareholders have approved the transaction, the transaction has closed, and we are now commencing with integration of the two businesses. The combined expertise, footprint and service portfolios of these two companies will benefit current and prospective customers, partners, investors and employees in ways that neither company could have achieved alone.
The combined company is now the ninth largest publicly traded US REIT in the RMZ index with an equity market cap of approximately $27 billion, and a total enterprise value of over $35 billion. Our size and experience enable us to serve you better, and we look forward to working even more closely with each of you to ensure your ongoing success and satisfaction.
This strategic transaction represents the biggest step we have taken to date in accelerating our commitment to provide the most comprehensive set of data center solutions and expertise in the market – supporting single-cabinet colocation and interconnection, to multi-megawatt, and now hyperscale deployments. DFT data centers’ 12 multi-tenant facilities significantly expand our hyperscale product offerings and enhance our ability to meet the rapidly growing needs of both the leading cloud service providers and enterprise customers transitioning to hybrid cloud architectures.
DFT’s development pipeline enables strong growth of the Digital Realty Connected Campus portfolio. Six data center development projects currently under construction in Ashburn, Chicago, Santa Clara and Toronto are expected to be completed in the next 12 months and are already 48 percent pre-leased. Adding to this, DFT also has strategic land holdings in Ashburn, Phoenix and Oregon which enable further expansion as additional capacity is needed.
In addition to world-class assets in the nation’s top metros, DFT has an outstanding team with a deep knowledge of industry best practices for customer engagement and ongoing satisfaction. In the coming weeks, we will continue to execute the strategic integration of Digital Realty and DFT, designed to offer greater choice and flexibility for our customers.