Dan Tith, CFO of DC REIT’s manager, indicated that any new debt is likely to cost around 4.5%–5%. As 75% of DC REIT’s debt is on fixed rates, the growth in interest expense is set to subside.
There was good news and not so good news in the business update provided by Digital Core REIT (DC REIT) for 1QFY2023 ended March.
Distributable income was 13.7% below forecast and 10% lower y-o-y, largely due to a surge in interest expense. All-in cost of debt was at 4.1% in 1Q2023.
