CoreSite Completes SSAE 16 Type 2 Audits at 11 Data Centers
Aug 09, 2011, 08:00 ET
DENVER, Aug. 9, 2011 /PRNewswire/ -- CoreSite Realty Corporation (NYSE: COR), a U.S. provider of powerful, network-rich data centers, today announced the company has completed a SSAE 16 Type 2 audit covering eleven operational data centers. SSAE 16 is designed to provide CoreSite data center customers with a level of assurance of corporate controls and will replace existing SAS 70 Type 1 and Type 2 audit reports. BrightLine, a licensed CPA firm, conducted the CoreSite SSAE 16 audit over the twelve-month period ending June 30, 2011.
SSAE 16 is an attestation standard issued by the American Institute of Certified Public Accountants that reports on CoreSite controls supporting the services provided to customers. CoreSite management developed internal control objectives to support first-class data center management services that were used to complete the audit. Companies that are compliance sensitive and may require SSAE 16 certification include publicly-traded enterprises, financial firms, and healthcare organizations. The SSAE 16 audit report includes management's description of CoreSite's systems and the suitability of the design and operating effectiveness of the controls. Further, the report contains a written assertion from management regarding the systems and a services auditor's opinion letter.
"CoreSite data centers are home to the vital data and infrastructure of more than 700 customers, many of whom maintain extremely rigorous compliance mandates," commented Dominic Tobin, senior vice president of operations at CoreSite. "We deliver a highly secure, compliant colocation environment. Being among the first in the industry to complete the rigorous, 12-month SSAE 16 audit of our entire operational data center portfolio demonstrates CoreSite's commitment to this obligation, helping to ensure the success and continuity of our current and future customers."
CoreSite Realty Corporation (NYSE: COR) delivers powerful, network-rich data centers that optimize, secure and interconnect the mission-critical IT assets of the world's top organizations. 700+ customers, including Global 1000 enterprises, cloud providers, financial firms, and government agencies, choose CoreSite for reliability, service and expertise in delivering customized, flexible data center solutions. CoreSite offers private data centers and suites, cage-to-cabinet colocation, and interconnection services, such as Any2, CoreSite's Internet exchange. The company's portfolio comprises more than two million square feet, including space held for redevelopment and development, and provides access to over 200+ network service providers via 12 data centers in seven key U.S. economic centers. For more information please visit www.coresite.com.
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Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: the timely completion of planed construction, geographic concentration of the Company's data centers in certain markets and any adverse developments in local economic conditions or the demand for data center space in these markets; fluctuations in interest rates and increased operating costs; difficulties in identifying properties to acquire and completing acquisitions; significant industry competition; the Company's failure to obtain necessary outside financing; the Company's failure to qualify or maintain our status as a REIT; financial market fluctuations; changes in real estate and zoning laws and increases in real property tax rates; and other factors affecting the real estate industry generally. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
SOURCE CoreSite Realty Corporation
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