Nuveen Real Estate’s Asia Pacific Cities Fund (APCF) has made its first investment in Hong Kong — a fully occupied, 70,000-square-foot data center.
APCF was launched in November 2018 and focuses on selected “future-proof” cities across Asia Pacific.
APCF paid HK$2.88 billion ($371 million) for the Cargo Consolidation Complex data center in what it said was “a rare off-market opportunity,” according to Asia Financial.
“Hong Kong is a critical financial and technology hub and one of the most mature data center markets in Asia, with rich network connectivity, robust infrastructure and healthy market fundamentals, making this an important strategic investment,” said Louise Kavanagh, CIO of Nuveen.
