NTT DC REIT reported gross revenue of 106.0 million U.S. dollars for the nine months ended Dec, 31 2025 (“9M FY25/26”), up 1.7 per cent from the adjusted initial public offering (IPO) forecast of 104.2 million U.S. dollars. Net property income slipped 0.6 per cent to 47.1 million U.S. dollars on marginally lower occupancy and softer power revenue, while distributable income was broadly stable at 36.3 million U.S. dollars, 0.4 per cent above forecast.

Aggregate leverage remained unchanged at 32.5 per cent with all debt unsecured and the entire portfolio unencumbered. The weighted-average all-in interest rate stood at 3.94 per cent, 70 per cent of borrowings were on fixed rates, and the interest-coverage ratio was 4.0 times. NTT DC REIT has no debt maturities in the next three financial years and US$201 million of headroom before reaching a 40 per cent gearing threshold.

Operationally, the trust achieved a 9.2 per cent positive rent reversion during the period. Portfolio occupancy was 94.6 per cent as at Dec, 31 2025, rising to 97.3 per cent when including leases committed during the third quarter that commence in the fourth quarter. Weighted average lease expiry stood at 4.4 years, with less than 12 per cent of rents due in FY25/26.

NTT DC REIT’s six-asset portfolio, acquired for 1.5 billion U.S. dollars, spans the United States, Austria and Singapore, offering a total design IT load of 90.7 MW. Management highlighted ongoing discussions with its sponsor, NTT Limited, on revising the management fee structure to further align interests with unitholders, targeting implementation in the first half of FY26/27.

The figures were presented at the Jefferies Asia Forum on Mar, 18 2026.