NTT DC REIT renews master lease for SG1 at 23% increase in rent

The Edge Singapore 03-31 12:41

NTT DC REIT renews master lease for SG1, with a positive rental reversion of about 23% with a 5% annual rent escalations for three years NTT DC REIT has successfully renewed the SG1 master services ...

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SG1 is located on 51 Serangoon North Avenue 4.\nThe renewed SG1 Master Services Agreement delivers a positive rental reversion of about 23% to $474 per kilowatt, compared with the $385 per kilowatt committed under the previous one-year lease.\nThe new lease incorporates fixed 5% annual rent escalations, providing contractual organic income growth over the three-year lease term commencing on April 1.\n“We are pleased to have achieved stronger than expected rental reversion, which would be accretive to NTT DC REIT’s income,\" says Yutaka Torigoe, CEO of the manager.\n\"Transitioning to a longer-term lease at higher rent further strengthens the visibility and stability of our cash flows.\n\"Looking ahead, we remain focused on delivering resilient performance while leveraging the strong pipeline of opportunities within our Sponsor and the wider NTT group to drive sustainable, long‑term value creation,” he adds.\nFollowing the renewal, NTT Singapore will continue to anchor SG1 with 2.7 MW of contracted capacity, which accounts for 31% of SG1’s capacity.\nNTT DC REIT units closed at 92 US cents, up 0.55%.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"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,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.38.0","shortVersion":"4.38.0","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/2624557083","isCrawlerRequest":true}