Bill Stein, president and CEO of Digital Realty (NYSE: DLR), participated in a video interview at Nareit’s REITworld: 2018 Annual Conference in San Francisco.
Stein discussed the REIT’s recent entry into Latin America via its acquisition of Ascenty. He noted that Ascenty is the largest data center provider in Latin America, with a 30 percent market share in Brazil.
Given that Brazil is the world’s eighth largest economy and its internet growth is lagging the rest of the world, “we think there’s an awful lot of growth down there,” Stein said.
Turning to supply/demand dynamics in Digital Realty’s core data center markets, Stein observed that “today, demand remains incredibly healthy.” To underscore the point, he noted that 70 percent of the world’s internet traffic passes through Northern Virginia every day.
Stein also commented on the company’s sustainability achievements. Digital Realty was a Nareit Leader in the Light Award recipient this year, he noted, while the Environmental Protection Agency (EPA) recognized the company as one of the top green power users in the tech and telecom industry.