Digital Core REIT (SGX:DCRU) agreed to a 10-year lease of its Linton Hall facility in Virginia, U.S., with a global cloud service provider, according to a Monday filing with the Singapore Exchange.
The agreement is expected to generate around $14.8 million in annualized net property income, representing approximately a 35% increase relative to the previous net rent.
Following the commencement of the lease, the facility will return to full occupancy, improving the REIT's overall portfolio occupancy to 98%, while extending the total portfolio weighted average lease expiration to 5.7 years.
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