Continue reading this on our app for a better experience

Open in App
Home News REITs

Digital Core REIT says it is not exposed to US regional banks

Felicia Tan
Felicia Tan • 1 min read
Digital Core REIT says it is not exposed to US regional banks
An asset within the REIT's portfolio. Photo: Digital Core REIT
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The manager of Digital Core REIT DCRU -

says the REIT has no customer or banking relationship to the failed US banks, Silicon Valley Bank (SVB), First Republic Bank or any other US regional bank.

It adds that none of the REIT’s customers are financial services firms, technology startup companies or backed by venture capital.

“Substantially all ([over] 99% of annualized revenue) of Digital Core REIT’s customers are publicly traded companies and the vast majority (75% of annualized revenue) are investment grade or equivalent,” says the manager in its March 17 statement.

Since the news of the banks’ failures broke, units in Digital Core REIT have not been performing well, falling some 20.5% from its last-traded unit price of 56 US cents (75.49 cents) on March 10.

Units in the REIT closed at 43 US cents on March 16.

Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.