Digital Core REIT Management Pte Ltd (DC REIT), listed in Singapore, stands firm despite its second major client, Cyxtera, filing for bankruptcy on Sunday. The real estate investment trust reassured investors on Monday, stating that it anticipates minimal impact on its earnings following the news of Cyxtera’s bankruptcy filing in the United States.
This marks the second instance of one of DC REIT’s tenants filing for bankruptcy, with Sungard, its fifth-largest tenant, having done so in 2022.
In April, DBS Group Research highlighted that Cyxtera Technologies is a tenant of Keppel DC REIT (KDC REIT), Mapletree Industrial Trust (MIT), and DC REIT. According to DBS, Cyxtera accounted for only 2% to 3% of KDC REIT’s and MIT’s revenues, but contributed 32% of DC REIT’s revenues.
Listed on the Main Board of the Singapore Exchange Securities Trading Limited on 06 December 2021, Digital Core REIT is the only pure-play data centre Singapore REIT (“S-REIT”) sponsored by a global best-in-class pure-play listed data centre owner and operator, Digital Realty.