D A T A C E N T E R S R E A L E S T A T E A C Q U I S I T I O N S R E P O R T YEAR IN REVIEW F I V E 9 S D I G I T A L

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1 DATA CENTERS REAL ESTATE ACQUISITION S REPORT YEAR IN REVIEW 2014 FIVE 9S DIGITAL

2 Five 9s Digital Year In Review Data center real estate acquisitin activity fr the full year 2014 yielded at ttal f $1.165 Billin wrth f transactins with 4,068,995 SF f data center real estate sld. This fllws $1.292 Billin f transactins in The transactins represent eighteen (18) data center real estate assets sld with an average sale price f $64,722,222 per transactin. The largest transactin by price was the $211.7M acquisitin made by Carter Validus fr the Ascent Data Center in the Chicag market. The largest transactin by size f data center was the 1.3 M SF carrier htel data center lcated at 401 N. Brad in Philadelphia acquired by Netrality Prperties. Digital Realty Trust, histrically having a large appetite fr new acquisitins, acted as seller either utright r t a jint venture partner, as the cmpany redirected its effrts in Carter Validus, a missin critical REIT, and ther private investment firms filled this acquisitins gap generating cmparable ttal annual sales vlume as Other REITs nt typically invlved in the data center real estate market cntinue t lk at the market fr ptential investments; Hwever, REITs are being pressured t fcus n cre cmpetency by sharehlders s we d nt see a big shift f new buyer cmpetitin frm industrial, retail r ther net leased REITs. The data center real estate investment market remains very cmpetitive fr active buyer grups fr strategically lcated assets with lng term, gd credit tenancy. Fairly aggressive lending at lw interest rates cntinue t prvide attractive financing pprtunities fr new data center acquisitins. Likewise, existing wners are refinancing assets at r near lan maturity taking sme data center assets ut f the ptential investment pl. Cap rates have edged belw 7% fr gd credit, lng term, single-tenant leases. Investment pprtunities lacking clear credit, shrter term leases and multi-tenant ccupancy are typically trading in % cap rate range. The data center real estate investment market cntinues t capture the macr trend f grwth in data, strage, disaster recvery and the migratin t the clud. New develpments, upn partial r full stabilizatin, and crprate sale-leasebacks will cntinue t supply the market fr investrs. Trend Sptting: Crpratins cntinue t migrate t the clud either in whle r as part f a hybrid slutin. Data centers vacated resulting frm this slw but certain migratin ffers valueadd repsitining pprtunities t investrs and peratrs seeking cst savings and reasnably quick access t a grwth r underserved market. The purchase prices f the data centers n the fllwing pages range cnsiderably as d the price per sq ft. The variatins are related t variables such as terms f lease, tenant credit, building shell rent vs. turnkey rents, and lcatin. This utline is nly meant t be a sampling f acquisitins based upn infrmatin btained by public recrd and publicatins and is nt meant t be a full representatin f details invlved in any specific transactin. The infrmatin herein used fr any purpses ther than a general example f the verall marketplace shall need t be verified.

3 Five 9s Digital BUILDINGS BUYER SIZE PRICE PRICE PSF DATE CNA Financial Data Center 4267 Meridian Parkway Aurra IL DataCenter.BZ 55 Scherers Curt Data Center/Operatins Clumbus OH Peak 10 Data Center/Office Cmplex (Peak 10 60k SF) David Taylr Drive Charltte NC 401 Nrth Brad Carrier Htel/Data Center Philadelphia PA ByteGrid Hldings LLC 70,000 SF $30.35 Millin $434 January 2014 Clgix 32,000 SF $31.9 Millin $997 February 2014 H5 Data Centers 205,718 SF $18.5 Millin $90 March 2014 Netrality Prperties 1,300,000 SF Cnfidential Cnfidential March 2014 Thmpsn Reuters Data Center Walnut Ridge Drive Harland WI Carter Validus 59,516 SF $19.5 Millin $328 April 2014 Windstream Data Center 1805 Center Park Drive Charltte NC Carter Validus 60,850 SF $26.4 Millin $434 April 2014

4 Five 9s Digital BUILDINGS BUYER SIZE PRICE PRICE PSF DATE Bank leased Data Center 636 Pierce Street Smerset NJ Prudential Real Estate Investrs (PREI) JV with Digital Realty Trust 108,336 SF $40.4 Millin $373 March 2014 Centurylink Data Center Single-Tenant Data Center 3620 Sacrament Drive San Luis Obisp, CA H5 Data Centers 43,672 SF $9.525 Millin $218 April Braham Street Lndn UK Level 3 Cmmunicatins, tenant, acquired the facility frm Digital Realty Trust 63,233 SF $41.5 Millin $656 April 2014 Ascent Data Center CH2 Nrthlake IL (Chicag) Carter Validus 251,141 SF $211.7 Millin $843 May 2014 QTS Realty Trust (QTS) East Windsr, NJ QTS Realty Trust 560,000 SF (Included a 50 Acre 14.1 MW Slar Farm) $75 Millin $134 June 2014 San Jse Multi-Tenant Data Center 2030 Frtune Drive San Jse CA H5 Data Centers 72,249 SF $17.7 Millin $245 June 2014

5 Five 9s Digital BUILDINGS BUYER SIZE PRICE PRICE PSF DATE Tw (2) IO Data Centers Sale-Leaseback Phenix and Scttsdale GE Data Center Windward Cncurse Park Alpharetta GA Carter Validus 625,000 SF $125 Millin $200 August 2014 Carter Validus 185,000 SF $50 Millin $270 September 2014 Leased Turnkey Data Center Part f Digital Realty s Ashburn Cmplex Ashburn Virginia Griffin Capital Essential REIT JV Sale by Digital Realty Trust 80% t Griffin/20% DRT 132,280 SF $187.6 Millin 7.05% Cap Rate 7 years average lease term 100% leased $1,418 September Players Lane Hiltn Htels Data Center Memphis TN Five 9s Digital, LLC 35,000 SF $3.7 Millin $106 Octber Suth Wells Street Dwntwn Chicag IL Netrality Prperties 100,000 SF $20.5 Millin $205 Octber 2014 ETrade Data Center 1650 Unin Hill Rad Alpharetta GA Carter Validus 165,000 SF $56.7 Millin $344 Nvember 2014

6 Five 9s Digital D A T A C E N T E R R E A L E S T A T E A C Q U I S I T I O N S A N N U A L S U M M A R Y AVERAGE SF PER DEAL 300, ,838 SF 250, ,055 SF 218,084 SF 200, , , This verview shws 4,068,995 SF f data center real estate acquisitins in 2014, valued at apprximately $1.165 Billin. The largest transactin, based upn square ftage, was the Netrality Prperties acquisitin f the 401 N. Brad building in dwntwn Philadelphia. The deal was cmpleted in March f 2014, and ttaled apprximately 1,300,000 SF. AVERAGE PRICE PER DEAL $95,100,000 $64,722,222 $46,161, AVERAGE PRICE PER SF $500 $300 $100 $436 PSF $175 PSF $286 PSF The largest transactin in 2014, based upn the ttal cst, was the Carter Validus acquisitin f the 251,141 SF Ascent Data Center in Chicag, IL. The deal was cmpleted in May f 2014 and transacted at $211.7 Millin. Figures are based slely n infrmatin cntained in this reprt. This summary prvides a snapsht, and is nt intended t represent the ttality f data center real estate acquisitins fr the respective year. Cnfidential sales infrmatin is nt represented in the individual sales transactin but estimated values were used fr purpses f establishing the averages.

7 Five 9s Digital NEWS & NOTEWORTHY BUSINESS TRANSACTIONS IN Shaw Cmmunicatins buys data center cmpany ViaWest frm Oak Hill Capital Partners in a deal with an enterprise value f $1.2B NTT Cmmunicatins cmpleted its acquisitin f an 80% stake in RagingWire Data Centers with an investment f $350M. TierPint, frmerly knwn as Cequel Data Centers, acquired Xand, a clcatin, clud and managed services cmpany frm ABRY creating a cmbined 13 data center ftprint in 10 markets in the US. Zay Grup Hldings ges public in Octber 2014 creating a $5B cmpany. Zay buys AtlantaNAPin mid Centurylink acquired DataGardens, with SafeHaven as its flagship prduct, ffering disaster recvery in ff-site virtual clud data center envirnment and acquired Big Data firm, Cgnilytics. Equinix bard apprves REIT status. GI Partners acquires Peak 10 Inc. which perates 24 data centers with its main presence in the sutheast at a deal valued at an estimated $800M. Level 3 Cmmunicatins acquired TW Telecm creating a cmbined enterprise value f $27B in Octber This creates mre than 200,000 rute miles glbally reaching mre than 60 cuntries acrss 6 cntinents. Cmcast annunced the audacius acquisitin f Time Warner which wuld create a $45B merger and still pending regulatr apprval.

8 Five 9s Digital Secnd Quarter Five 9s Digital specializes in advisry services fr data center real estate including the identificatin f value-add pprtunities, multitenant facilities, and lng term stable single-tenant investment assets. Please cntact us with yur investment criteria, gegraphic preference, r if yu are cnsidering a sale f yur current missin critical hldings. Dug Hllidge Five 9s Digital Dug@five9sdigital.cm Stephen Bllier Five 9s Digital Steve@five9sdigital.cm W E B S I T E :