Japan: Digital Core REIT acquires more shares in Osaka data center

Apr 03, 2024 | Posted by Abdul-Rahman Oladimeji

Digital Core REIT has acquired an additional 10 percent share in a data center in Osaka, Japan via Digital Core REIT's subsidiary, Digital CR Singapore 4 Pte. Ltd., for JPY 7,725 million (~$51.5m), from Mitsubishi Corporation. The Osaka data center is a freehold facility with a 95 percent occupancy rent, comprised of 114,940 sq ft (10,678 sqm) of rentable space and is leased to "leading global cloud providers."

“We would like to acknowledge the efforts of Citibank Global Markets, BofA Securities, Inc., and DBS Bank, Ltd. in their capacity as lead arrangers and bookrunners, which facilitated this series of successful financings,” said Dave Craft, CFO of Digital Core REIT Management Pte. Ltd., the manager of Digital Core REIT.

“We would also like to welcome Mizuho Bank Ltd. and recognize their efforts in arranging the new Yen-denominated term loan. Finally, we would like to extend our gratitude to the entire bank group, whose overwhelming support made this amendment possible, providing significant financial flexibility in support of our external growth strategy.”