As NTT DC REIT prepares for its market debut on 14 July, Chief Financial Officer Masayuki Ozaki has addressed questions over the REIT’s heavy reliance on a single tenant.
NTT DC REIT launched its initial public offering (IPO) on 7 July and its initial portfolio consists of six carrier-neutral, Tier III or Tier III-equivalent data centres valued at USD1.6 billion.
In response to questions from REITsWeek at a media event ahead of the IPO launch Ozaki acknowledged that the tenant, an unnamed electric vehicle company, may currently present as a tenant concentration issue for the REIT.
Related: NTT DC REIT targets 7.50% distribution yield in USD773 million IPO
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