Digital Core Reit proposes to raise stake in Frankfurt data centre for $170.7 million

The Straits Times03-07

SINGAPORE - Digital Core Reit (real estate investment trust) is proposing to acquire a further 24.9 per cent stake in a German data centre, raising its holding to 49.9 per cent. However, the ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDigital Core Reit proposes to raise stake in Frankfurt data centre for $170.7 million\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-07 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/digital-core-reit-proposes-to-raise-stake-in-frankfurt-data-centre-for-1707-million><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE - Digital Core Reit (real estate investment trust) is proposing to acquire a further 24.9 per cent stake in  a German data centre, raising its holding to 49.9 per cent. \nHowever, the ...</p>\n\n<a href=\"https://www.straitstimes.com/business/digital-core-reit-proposes-to-raise-stake-in-frankfurt-data-centre-for-1707-million\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6512","symbol_name":"房地产股","start_time":0,"source_url":"https://www.straitstimes.com/business/digital-core-reit-proposes-to-raise-stake-in-frankfurt-data-centre-for-1707-million","article_id":"2417227949","we_media_id":null,"thumbnails":[],"rights":{"source":"straits_highlight","url":"https://www.straitstimes.com/business/digital-core-reit-proposes-to-raise-stake-in-frankfurt-data-centre-for-1707-million","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2417227949","pubTimestamp":1709768280,"sourceInfo":{"source_id":"straits_highlight","name":"Straits Times"},"weMediaInfo":null,"summary":"SINGAPORE - Digital Core Reit  is proposingto acquire a further 24.9 per cent stake in  a German data centre, raising its holding to 49.9 per cent.However, the proposed 117 million euro  interested-person transaction requires unitholders’ approval.Digital Core Reit Management, the manager of the pure-play data centre real estate investment trust, said in a regulatory filing on March 6 that raising its stake in the freehold data centre in Frankfurt is expected to be approximately 3.2 per cent accretive to the annual distribution per unit.The acquisition will improve overall portfolio credit quality, increasing the total annualised rent contribution from investment-grade customers from 78 per cent as at 2023 to 87 per cent pro forma for the transaction, said the Reit manager.The data centre has 449,546 rentable square feet of space with an occupancy ratio of 92 per cent and features tenants who are “a roster of blue-chip customers, each with numerous deployments across the sponsor’s glob","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK6512":"房地产股","BK6014":"特种房地产投资信托","CFA.SI":"NikkoAM-STC Asia REIT","DCRU.SI":"DigiCore Reit USD","BK6131":"数据中心房地产信托"},"translate_title":"数字核心房地产投资信托基金提议以1.707亿美元增持法兰克福数据中心的股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CFA.SI":1,"DCRU.SI":1},"content_text":"SINGAPORE - Digital Core Reit (real estate investment trust) is proposing to acquire a further 24.9 per cent stake in  a German data centre, raising its holding to 49.9 per cent. \nHowever, the proposed 117 million euro (S$170.7 million) interested-person transaction requires unitholders’ approval.\n\nDigital Core Reit Management, the manager of the pure-play data centre real estate investment trust, said in a regulatory filing on March 6 that raising its stake in the freehold data centre in Frankfurt is expected to be approximately 3.2 per cent accretive to the annual distribution per unit.\n\n\n\nThe manager intends to fund the total acquisition cost with proceeds from the sale of the Silicon Valley properties and a portion of the proceeds from the private placement in February. At the time, the manager launched a private placement of new units at US$0.625 apiece to institutional, accredited and other investors, raising US$117 million (S$156.6 million) in net proceeds.\nThe acquisition will improve overall portfolio credit quality, increasing the total annualised rent contribution from investment-grade customers from 78 per cent as at 2023 to 87 per cent pro forma for the transaction, said the Reit manager.\n\nIt will reduce the total annualised rent contribution from North America from 82 per cent as at 2023 to 71 per cent pro forma for the transaction, thus enhancing geographical diversification for the Reit, it added.\n\n\n\n\nThe data centre has 449,546 rentable square feet of space with an occupancy ratio of 92 per cent and features tenants who are “a roster of blue-chip customers, each with numerous deployments across the sponsor’s global platform”, said the Reit manager.\n\n\nDigital Realty Trust is the Reit’s sponsor.\n\nThe lease agreements allow for the pass-through of utilities expenses – providing additional insulation against rising energy costs – while the weighted average remaining lease expiry is approximately 2.7 years based on annualised rent as at Dec 31, 2023.\n\nDigital Core Reit bought a 25 per cent interest in the facility in December 2022, and would own 49.9 per cent if the proposed acquisition if the 24.9 per cent stake from a wholly owned subsidiary of the sponsor is approved at an extraordinary general meeting to be convened.\nDigital Germany Holding, the wholly owned subsidiary of the sponsor, will hold the remaining 50.1 per cent of stakes in the data centre.\n\nUnits of Digital Core Reit closed 2.5 per cent higher at US$0.61 on Wednesday, before the announcement. THE BUSINESS TIMES\n\n\n\n\n\nMore On This Topic\n\n \n\nDigital Core Reit proposes private placement to raise $134 million\n\n\n\n \n\nDigital Core Reit eyes Asia-Pacific for growth","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2417227949"}