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Digital Core REIT to be included in FTSE EPRA Nareit Global Developed Index

Felicia Tan
Felicia Tan • 2 min read
Digital Core REIT to be included in FTSE EPRA Nareit Global Developed Index
The REIT also announced several appointment changes on the same day. Photo: Digital Core REIT
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Digital Core REIT DCRU -

, on Sept 4, announced that it will be included in the FTSE EPRA Nareit Global Developed Index. The REIT’s inclusion will take effect as of the market close on Sept 15.

The FTSE EPRA Nareit Global Real Estate Index Series is designed to track the performance of listed real estate companies and REITs around the world. The series is seen as the leading benchmark for listed real estate investments.

“Inclusion in the widely recognised FTSE EPRA Nareit Developed Index is a significant milestone that should enhance our trading liquidity on the SGX as well as our visibility to global institutional investors, while attracting new capital inflows from global index funds,” says John J. Stewart, CEO of the manager.

“As one of only two pure-play data centre REITs in the FTSE EPRA Nareit Developed Asia Index, we are pleased to offer investors the opportunity to participate in the long-term secular growth drivers benefitting the communications infrastructure industry,” he adds.

On the same day, the REIT announced that Jeffrey Tapley, the chairman and non-independent non-executive director of the REIT manager will step down from his roles on Oct 1. Tapley will then focus on his expanded responsibilities as chief commercial operations officer with the REIT’s sponsor, Digital Realty.

At the same time, Daniel Tith, chief financial officer (CFO) of the REIT manager will also step down on Oct 1 to assume another management role within Digital Realty. Tith’s cessation comes as part of the manager’s leadership renewal process.

See also: Unearthing value in property stocks and REITs

David Craft, formerly the senior director and vice president of acquisitions and investments at Digital Realty Trust, will replace Tith as CFO of the manager.

Finally, Serene Nah has been appointed as a non-independent non-executive director of the REIT manager. Nah, who is also an independent non-executive director of ESR Group, which is the sponsor of several Singapore Exchange (SGX)-listed REITs including ESR-LOGOS REIT (E-LOG), will recuse herself in matters that may have a conflict of interest between Digital Core REIT and ESR Group.

Units in Digital Core REIT closed 1 cent higher or 1.80% up at 56.5 cents on Sept 4.

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