Digital Core REIT released its first-quarter 2026 business and operational update on Apr, 30 2026, reporting distributable income that was unchanged both quarter-on-quarter and year-on-year. The trust said the flat result was achieved by offsetting lost rental revenue from its Linton Hall facility through proactive leasing, accretive investments and disciplined financing.

During the quarter, Digital Core REIT signed approximately 3 million Singapore dollars of new and renewal leases, achieving a 44% positive cash rental reversion. The manager said it has now reduced future lease expiries to less than 10 % of portfolio net rentable area in any single year through 2029. Portfolio occupancy stood at 97 %.

The refurbishment of the Linton Hall data centre in Northern Virginia is roughly 50 % complete. Key milestones include substantial completion of the roof replacement, installation of a high-security perimeter fence, and demolition of existing electrical equipment. The project remains on schedule and within budget for lease commencement in Dec, 2026. A 10-year lease with an investment-grade cloud services provider is set to begin then, carrying a 35 % rent uplift versus the prior contract and expected to contribute a full year of rental income in 2027.

In 1Q26, the REIT repurchased seven million units at an average price below 0.49 Singapore dollars per unit, equivalent to a 39 % discount to its net asset value. The buyback added about 30 basis points of distribution per unit accretion and increased balance-sheet leverage by less than 20 basis points.

Digital Core REIT closed the quarter with a leverage ratio of 39 %, within its 35 %–40 % target range. Approximately 80 % of its debt is hedged against rising interest rates, and no debt matures before Dec, 2027. Available liquidity totaled more than 190 million Singapore dollars, comprising roughly 150 million Singapore dollars of undrawn credit facilities and more than 40 million Singapore dollars in cash.

Looking ahead, the manager said it will continue to focus on proactive leasing, selective investments and prudent financing to narrow the current trading discount to net asset value and support distribution per unit growth, particularly as the refurbished Linton Hall facility comes online in late 2026.