Digital Core REIT - DBS Research 2022-10-27: Acquisition Of Frankfurt Data Centre On The Horizon

• Digital Core REIT (SGX:DCRU)'s provided 3Q22 business and operational updates. See Digital Core REIT's announcement dated 28 Oct 2022.

Distributable income improved 0.9% q-o-q.

• - Read this at SGinvestors.io -
• Despite the higher financing costs, Digital Core REIT's distributable income improved 0.9% q-o-q. This is likely due to some savings in operating and trust expenses. We understand that it was also from the straight-lining of earnings that contributed ~US$1.5m to US$2.0m in 3Q22.

Portfolio remains 100% occupied

• - Read this at SGinvestors.io -
• An agreement has been reached with Sungard (at 371 Gough Road) who is currently undergoing bakruptcy proccedings.
  • Tenant will vacate premises at the end of this year; tenant still current with rent payments to date.
  • Support agreement in place from Sponsor to guarantee cashflows through December 2023.
  • Digital Core REIT has commenced marketing of the vacated space and are seeing some enquiries.
• Vacancy rates across all markets continue to compress.

3Q23 borrowing costs increased to 3.1%

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-04-24 Digital Core REIT - Sustained Leasing Momentum In The US.

Previous report by DBS:
2025-02-13 Digital Core REIT - Robust Performance In North America & Europe.

Price targets by other brokers at Digital Core REIT Target Prices.

Listing of research reports at Digital Core REIT Analyst Reports.

Relevant links:
Digital Core REIT Share Price History,
Digital Core REIT Announcements,
Digital Core REIT Dividend Payout Dates & Corporate Actions,
Digital Core REIT News