Acquisitions

9 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Acquisitions

On October 8, 2025, the Company and ODIT OP entered into a purchase agreement with Blue Owl Digital Infrastructure Fund I LP (“BODI I Main Fund”), a Delaware limited partnership, Blue Owl Digital Infrastructure Fund I-A LP (“BODI I-A”), a Delaware limited partnership, Blue Owl Digital Infrastructure Fund I-B LP, a Delaware limited partnership (“BODI I-B” and, together with BODI I Main Fund and BODI I-A, the “BODI I Funds”), Blue Owl Digital Infrastructure I GP LLC, a Delaware limited liability company, ICONIQ DC Splitter 1-A, L.P., a Delaware limited partnership (the “394 Pacific Holdco”), and IPI STACK Domestic REIT Holdings L.P., a Delaware limited partnership (“STACK USA Holdco”), pursuant to which ODIT OP acquired certain digital infrastructure assets from the BODI I Funds. The transaction closed on December 1, 2025.

The following table sets forth the acquisition value, number of assets and total rentable capacity of the acquired digital infrastructure assets:


Property Type	Acquisition Value		Number of Properties	Capacity (in Megawatts)
Digital infrastructure	$	1,523,792	11	168
Total	$	1,523,792	11	168

The following table details the purchase price allocation for the properties acquired during the period from Inception through December 31, 2025:



Buildings, infrastructure, and improvements	$	2,864,322
Land and land improvements	289,892
Tenant improvements	43,744
Furniture, fixtures and equipment	2,612
Construction in progress	70,118
In-place lease intangibles	335,375
Other lease intangibles	128,172
Above-market lease intangibles	58,472
Below-market lease intangibles	(516,533)
Total purchase price	$	3,276,174
Assumed debt	(1,798,417)
Working capital accounts	46,035
Net proceeds	$	1,523,792


Consideration	Amount
Cash	$	1,482,083
Common shares issued	9,224
OP Units issued	32,485
Total Purchase Price	$	1,523,792