NTT DC REIT announced its unaudited financial and operating update for the nine-months ended Dec, 31 2025 during the Goldman Sachs APAC Data Center Corporate Day on Mar, 31 2026.

Gross revenue reached 106.0 million, 1.7 per cent above the adjusted IPO forecast, while net property income of 47.1 million was 0.6 per cent lower because of softer power revenue and slightly lower physical occupancy. Distributable income totalled 36.3 million, broadly in line with projections.

The trust closed the period with aggregate leverage of 32.5 per cent, an interest coverage ratio of 4.0 times and 70 per cent of its debt on fixed rates. All six assets in the United States, Europe and Asia remain unencumbered.

Operationally, positive leasing momentum drove a 9.2 per cent average rent reversion. Back-filled space at CA1, CA3 and SG1 lifted committed portfolio occupancy to 97.3 per cent as at Dec, 31 2025, compared with 94.6 per cent on Sep, 30 2025. Weighted average lease expiry stood at 4.4 years, with less than 12 per cent of base rent due for renewal in the current financial year.

The portfolio, acquired for 1.5 billion across the United States, Austria and Singapore, comprises 90.7 MW of design IT load, of which 82.7 per cent is on freehold land. The sponsor, NTT Limited, operates more than 2,300 MW of data-centre capacity globally through its NTT Global Data Centers platform.

NTT DC REIT said it is in advanced discussions to amend its management fee structure and has launched new leasing incentives aimed at sustaining demand in its key markets.