Digital Core REIT Holds FY2025 DPU Steady as Linton Hall Lease-Up, Osaka Deal and Balance Sheet Moves Drive Double-Digit AUM Growth
Summary:
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Full-year 2025 distribution per unit came in at 3.60 U.S. cents, flat year-on-year, despite six months of downtime at the Linton Hall facility in Northern Virginia.
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Second-half DPU of 1.80 U.S. cents will be paid on 26 March 2026 to unitholders on record as of 12 February, with the annual and sustainability reports slated for late March and AGM in mid-April.
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A 20% stake acquisition in a second Osaka data centre delivered 180 basis points of accretion and helped lift assets under management by 13% year-on-year, with same-store values up 3% on a constant-currency basis.
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Active capital management cut the weighted average cost of debt by 40 basis points, kept leverage within the 35%–40% target band, and saw 85% of borrowings hedged, underpinned by a new medium-term note programme.
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The 10-year lease-up of 8217 Linton Hall to an investment-grade global cloud provider, commencing 1 December 2026, is expected to boost annualised net property income at Digital Core REIT’s share by roughly 35% versus the previous rent.
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Units are trading at a 34% discount to net asset value, with management highlighting 100% freehold ownership, strong Sponsor support from Digital Realty, and an “industry-leading” acquisition pipeline as key drivers of future value.
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