The appraised value of the IPO portfolio is approximately US$1.6 billion ($2.04 billion). All six assets are held on freehold basis, except for the Singapore asset, which is on leasehold land expiring in 2070. The initial lease term runs until August 2040, and a covenant with JTC grants a further 30-year term until 2070 subject to certain conditions stipulated in the lease.
Japanese telco Nippon Telegraph and Telephone (NTT) has lodged its IPO prospectus with the Monetary Authority of Singapore (MAS), spinning off four data centres in the US, one in Austria and one in Singapore into NTT DC REIT, a REIT to be listed on the Singapore Exchange.
According to the prospectus, lodged on June 27, all six of the data centre assets are carrier-neutral and Tier III or Tier III-equivalent. “The carrier-neutrality of the IPO portfolio gives customers the flexibility to choose the best connectivity provider for their needs.”
