Digital Core REIT on Apr, 10 2026 published replies to substantial unitholder questions before its annual general meeting to be held on Apr, 15 2026.

The manager reported that assets under management expanded 13% to 1.8 billion Singapore dollars in FY2025, mainly from the acquisition of a 20% stake in a second Osaka data centre completed in Mar, 2025. Revenue rose 70% year on year, reflecting the full consolidation of the Frankfurt facility after lifting its stake to 65%.

Distribution per unit was steady at 3.60 cents despite the Jun, 30 2025 vacancy of the 8217 Linton Hall Road asset, which had contributed about 10% of annualised rent. A new 10-year lease with an investment-grade global cloud provider will start on Dec, 1 2026, adding roughly 14.8 million Singapore dollars of annualised net property income (13.3 million Singapore dollars at the REIT’s 90% share) and is expected to drive double-digit DPU growth in 2027.

Management said the units trade at an “unwarranted” discount to net asset value and confirmed ongoing buy-backs. A mandate to repurchase up to 10% of issued units, within Singapore’s Take-over Code limits, will be tabled for renewal at the AGM.

Strategic priorities include doubling the asset base and market capitalisation within three to five years, completing the Linton Hall refurbishment on schedule, enhancing returns from two Los Angeles properties and preserving balance-sheet flexibility. While equity-funded deals are unlikely at current prices, the trust may recycle capital from North America into Asia-Pacific assets, leveraging the sponsor’s more than 15-billion-Singapore-dollar global right-of-first-refusal pipeline.

The REIT said 83% of its rental income is on pass-through electricity contracts, with residual exposure mitigated by fixed-price power agreements and repricing clauses. It forecasts double-digit positive rental reversions in 2026 and sees no material second-order risks from higher energy costs or the Middle East conflict. Approximately 80% of rental income is sourced from investment-grade tenants, and the manager does not view hyperscalers’ self-build activity as a significant competitive threat.

Digital Core REIT added it held more than 100 investor engagements in 2025 and plans to organise asset tours once it secures a Singapore property.