Digital Core REIT listed at an IPO price of US$0.88 in December 2021, carrying a book value of US$0.84 and a forecasted DPU of 4.18 cents (in USD) for 2022. DigiCore REIT came with the backing of a strong sponsor, Digital Realty (NYSE: DLR) and has well known tenants like Microsoft, Meta Platforms, IBM, Oracle, Equinix and JP Morgan. DC REIT’s gearing during the IPO was at 27%, which provided ample headroom for safety as well as acquisitions. The REIT got off well, reaching a high of US$1.25 in January 2022. Unfortunately that was the end of the run as the REIT currently trades at US$0.43, less than half of the IPO price. What happened to DigiCore REIT? DigiCore’s 2nd largest tenant, Cyxtera is bankrupted. Cyxtera filed for bankruptcy protection on 5th June 2023. It currently represents approximately 22.4% of DigiCore REIT’s rental income and 26.6% of its total portfolio value. Cyxtera occupies:...