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Digital Realty spending $1 bln for London footage

NEW YORK (MarketWatch) -- Digital Realty Trust Inc. said Tuesday it'll pay about $1.1 billion to buy a 761,000-square-foot, three-property data center in the greater London area called the Spectrum Portfolio. The data centers are located in Woking, Watford and Croydon. The San Francisco-based real estate company said it expects the acquisition to add to its core funds from operations upon closing, excluding acquisition costs. The company plans to provide updated financial benchmarks in its second-quarter earnings update. Digital Realty Trust said some of the dollar proceeds from the sale of a new 8.25 million-share common stock offering will go toward the purchase of the Spectrum Portfolio.