Digital Core REIT buys stakes from Digital Realty in Singapore and Osaka
Digital Core REIT will buy from Digital Realty a 2.5% stake in Singapore’s 11 Loyang Close for S$87m and a 25% stake in Digital Osaka 3 for ¥17.6 billion, raising ownership to 45%. The ~$176m investment will use about $117m of net proceeds to repay debt and up to $20m to repurchase units. Funds come from selling stakes in Toronto, Los Angeles and Virginia.