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A portfolio of 10 assets concentrated in top-tier data centre markets across the U.S. and Canada valued at US$1.4 billion proves to be attractive for digital infrastructure investors.
Founder and Editor, The Tech Capital
December 08, 2021 | 1:00 AM GMT
Shareholders will be happy as the market debut delivered a 13.86% increase in share prices within 24 hours of trading (Dec 7). The stock was priced at US$1.15 at the market close this Tuesday.
Digital Realty contributed a 90% interest in a portfolio of 10 assets concentrated in top-tier data centre markets across the U.S. and Canada valued at US$1.4 billion.
The initial IPO portfolio is fully leased to a blue-chip roster of large and growing customers with a weighted average remaining lease term of over six years.
Digital Core REIT is sponsored by and externally managed by Digital Realty to provide operational support for the new vehicle and to ensure a seamless customer experience.
Digital Realty will earn fees for asset and property management as well as acquisitions, dispositions and development.
A. William Stein, CEO of Digital Realty, said: “We are thrilled by the successful launch of this new vehicle, which is ideally positioned to help Digital Realty create value by providing a perpetual capital partner for core assets, while acting as an extension of our global platform and enabling customers to continue to rely on Digital Realty’s track record of operational excellence.
“We have a strong presence in Singapore, which is home to our APAC regional headquarters as well as our flagship facility in Jurong and two recently completed projects in Loyang. We are pleased to be able to offer our global data centre expertise to a broader audience of regional investors seeking exposure to core data centre investment opportunities.”
The IPO was backed by a total of 26 other cornerstone investors including AEW Asia, Affin Hwang Asset Management, AIA Investment Management, AMP Capital Investors, Blackrock, Cohen & Steers Asia, DBS, DWS Investments Australia, FIL Investment Management Hong Kong, Fullerton Fund Management Company, Lion Global Investors, Nikko Asset Management Asia and Value Partners Hong Kong.
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- AEW Asia
- Affin Hwang Asset Management
- AIA Investment Management
- AMP Capital Investors
- Cohen & Steers Asia
- Digital Core REIT
- Digital Infrastructure
- Digital Realty
- DWS Investments Australia
- FIL Investment Management Hong Kong
- Fullerton Fund Management Company
- Lion Global Investors
- Nikko Asset Management Asia
- Value Partners Hong Kong
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