- Digital Core REIT continues to increase geographical diversification by acquiring an additional 24.9% stake in a Frankfurt data centre and a 10% stake in an Osaka data centre. Data centres in Germany and Japan expanded by 19ppt y-o-y to 33% of annualised rent.
- - Read this at SGinvestors.io -
Accretive asset recycling.
- Digital Core REIT (SGX:DCRU) has repositioned its portfolio to increase geographical diversification and strengthen servicing of hyperscale tenants:
Strengthen presence in Frankfurt, Germany.
- Digital Core REIT has completed the acquisition of an additional 24.9% interest in Wilhelm-Fay Straße 15 and 24, a fully-fitted freehold data centre in Frankfurt, from sponsor Digital Realty for €117m or US$128.7m, which is a 6% discount to appraised valuation, in Apr 24.
- - Read this at SGinvestors.io -
Strengthen presence in Osaka, Japan.
- Digital Core REIT has completed the acquisition of another 10% interest in a fully-fitted freehold data centre located in Osaka from Mitsubishi Corporation for ¥7.725b or US$51.5m, which is a 1% discount to appraised valuation, in Mar 24.
- The acquisition brought its aggregate interest to 20%.
Acquisitions partially funded by divestments.
- Read more at SGinvestors.io.
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 @ https://www.utrade.com.sg/.
Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-06-27
Read also UOB's most recent report:
2024-10-28 Digital Core REIT - 3Q24 Progress Of Backfilling Above Expectations.
Previous report by UOB:
2024-09-18 Digital Core REIT - Impending Acquisition At Huge Valuation Discount Provides Lucrative Yield.
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
