Digital Core REIT - UOB Kay Hian 2023-06-06: Overhang Crystalises, Working On Backfilling Vacant Space

Digital Core REIT - Overhang Crystalises, Working On Backfilling Vacant Space

Digital Core REIT (SGX:DCRU) | SGinvestors.ioDigital Core REIT (SGX:DCRU)
  • Cyxtera, Digital Core REIT’s second-largest tenant accounting for 22.4% of annualised rent, has filed for chapter 11 bankruptcy protection. We expect Cyxtera to reject the two leases for data centres in Los Angeles as occupancy is low at 57%.
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Worst fear has crystallised.

  • Digital Core REIT (SGX:DCRU)’s second-largest tenant Cyxtera, which accounted for US$16.3m or 22.4% of annualised rental revenue, has filed for chapter 11 bankruptcy protection in the District Court of New Jersey on 4 Jun 23.
  • - Read this at -
  • Cyxtera has obtained up to US$200m of debtor-in-possession financing and intends to pay vendors and suppliers in full.

Preliminary assessment.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

Jonathan KOH CFA UOB Kay Hian Research | 2023-06-06

Read also UOB's most recent report:
2024-02-21 Digital Core REIT - Scaling Up Presence Overseas While Lowering Leverage.

Previous report by UOB:
2023-11-03 Digital Core REIT - Rising From The Ashes.

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 Dividends & Corporate Actions,
Digital Core REIT News Articles


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