Digital Core Reit's Q1 distribution income rises 9.9% to US$11.7 million
[SINGAPORE] Digital Core Real Estate Investment Trust (Reit) posted distribution income attributable to unitholders of US$11.7 million for the three months ended Mar 31, 9.9 per cent higher from the year-ago period.
The manager of the data centre-focused Reit said in a business update on Wednesday (Apr 23) that revenue for its first quarter jumped 79.9 per cent to US$44.2 million, from the same quarter in 2024. Net property income also rose, by 41.8 per cent year on year to US$22.4 million.
Tax expenses however, were 61.2 per cent higher, at US$4.1 million. The manager did not provide distribution per unit for the quarter.
Occupancy at the Reit's data centres in Frankfurt, which account for 29 per cent of Digital Core's portfolio, was 99.6 per cent as at Mar 31, slightly higher than 99.5 per cent the year before. Occupancy at the data centres in Northern Virginia and Silicon Valley, which account for 40 per cent of the Reit's portfolio, was unchanged at 100 per cent.
Units of the Reit advanced US$0.005, or 1.06 per cent, to close at US$0.48 before the update.
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