News & Announcements

Weil Advises Digital Realty in Successful Resolution of Relationship with Cyxtera

Weil is advising Digital Realty, the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, and Digital Core REIT in definitive agreements with Brookfield Infrastructure Partners L.P. and its institutional partners Cyxtera Technologies and Digital Core REIT that successfully resolve the relationships with Cyxtera.

These agreements were completed in conjunction with Brookfield's announced agreement to acquire Cyxtera, pursuant to its Plan of Reorganization under its Chapter 11 proceedings and remain subject to bankruptcy court and regulatory approval, and include:

  1. Brookfield to acquire certain interests held by Digital Realty and its related parties in four data centers for approximately $450 million.
  2. Digital Realty to redeploy $55 million to buy out Cyxtera's leases in three colocation data centers in Singapore and Frankfurt.
  3. Brookfield to assume the leases on three facilities previously leased to Cyxtera and amend the leases on three additional data centers in New Jersey and Los Angeles, accelerating the expiration date to September 2024.
  4. Brookfield has granted Digital Realty a purchase option to acquire a colocation data center outside of London.

The Weil team is led by Real Estate partner Pejman (Pej) Razavilar, Restructuring partner Jessica Liou and M&A partner Gavin Westerman, and includes Real Estate counsel Simon Heimowitz and associates Michael Buschmann, Subrina Chowdhury, Caroline Adnams, Doug Illsley, Alexa King and David Markovitz; M&A associates Jason Klig and Avi Rubin; Restructuring associates Stephanie Morrison, Maggie Burrus and Angeline Leggiero; Antitrust/Competition Co-Head Jeff Perry and counsel Carla Hine, Rob Meyer and Nafees Saeed; Corporate partner Barbara Jagersberger; Structured Finance & Derivatives partner Jason A.B. Smith; Employment Litigation counsel Rebecca Sivitz; International Tax Head Devon Bodoh and associates Alex Dobyan, Andrew Piper and Grant Solomon; and Technology & IP Transactions Co-Head Charan Sandhu, partner Olivia Greer and associates Justin Yun, Amanda DeMasi, and Amy Montoya.