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10 layers580 nodes2,376 dependencies9 chokepoints112 bottlenecks6,500+ companiesnode size = companies identified

Data centre REITs and real-estate investors

BOTTLENECK

Specialist REITs own most data centre real estate and lease escalators let them extract economic rents when AI capacity tightens.

Listed or unlisted vehicles that own data centre properties and collect lease income. They offer capital-efficient ownership for AI infrastructure, benefiting from lease escalators and asset appreciation when capacity runs tight.

Listed or unlisted investment vehicles holding data centre properties and earning income from long-term leases; includes specialist infrastructure funds.

What the evidence shows

A $1.22B fund's top holdings: Equinix 13.80%, Digital Realty 12.61%, American Tower 12.25%, Crown Castle 8.58%.

247wallst.com

REITs with pre-AI-boom grid access and PPAs command premium valuations due to scarce electrical capacity.

angelinvestorsnetwork.com

Vacancy levels in Northern Virginia, Phoenix, and Atlanta are around 1%.

reit.com
RESCORED JUL 2026consolidatedscaling

Who controls it

EquinixDigital RealtyAmerican Tower

No independently verified market-size figure is published for this node yet.

Where it sits in the stack

Takes in: Investor capital, stabilised data centre assets

Sends on: Yield on data centre real estate; capital recycling into new development

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Related nodes

Hyperscale self-build owners/operatorsWholesale colocation operatorsRetail colocation operatorsNeocloud facility owners/operatorsEdge and micro data centre operators

Full scorecard, owner shares, supply edges and the full tracked roster are in the desk letter.

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