Digital Core REIT DPU dips 2.7% in FY 2024

The group owns 10 facilities as of 31 December 2024.

Digital Core REIT reported a dip of 2.7% in its distribution per unit (DPU) for the full year 2024, according to its bourse filing.

Cash net property income declined 7% from US$66.12k ($89.45k) to US$61.48k ($83.17k). The group attributed the decline to the sale of 2401 Walsh Avenue and 2403 Walsh Avenue in January 2024.

Net property income also slipped by 1.9%.

As of 31 December 2024, Digital Core REIT owned a diversified portfolio of 10 facilities valued at US$1.6b, concentrated in core data centre markets across the United States, Canada, Germany, and Japan.

In 2024, Digital Core REIT signed new and renewal leases, representing US$74m of annualised rent.  The cash rental rate reversion on renewal leases signed was 4.3%.  Overall portfolio occupancy was 96.7% as of 31 December 2024 and the weighted average lease expiration was 4.8 years.