The REIT, on April 22, announced the completion of the acquisition of an additional 24.9% interest in Wilhelm-Fay Straße 15 and 24, a fully-fitted freehold data centre in Frankfurt, Germany. The acquisition was made from the REIT’s sponsor, Digital Realty, for EUR117 million ($169.7 million) or US$128.7 million, which is a 6% discount to the data centre’s appraised valuation. The REIT’s aggregate interest in the data centre increased to 49.9% after the acquisition.
UOB Kay Hian analyst Jonathan Koh has maintained his “buy” call on Digital Core REIT (DC REIT) while increasing his target price by 6 cents from 79 US cents ($1.07) to 85 US cents following the REIT’S increasing geographical diversification of its portfolio through its expansion in Germany and Japan.
“DC REIT has repositioned its portfolio to increase geographical diversification and strengthen servicing of hyperscale tenants,” says the analyst.
