CapitaLand Ascendas REIT completes acquisition of fifth data center in U.K.

CapitaLand Ascendas REIT Management Ltd., as the manager of CapitaLand Ascendas REIT (CLAR), has completed the acquisition of a high-specification Tier III colocation data center facility in the United Kingdom from an unrelated global data center operator.

The property is situated in Watford in northwest London. The purchase consideration for the acquisition is £119.4 million (€139.8 million/$152.2 million).

“As the demand for cloud and digital services continues to rise, we are capitalizing on favorable market dynamics to significantly scale up our presence in the data center sector,” said William Tay, CEO and executive director of the manager. London ranks among the top three global data center markets and is also Europe’s largest colocation data center market. This acquisition complements our data centers around London, deepening and boosting our data center investments in the United Kingdom by 54 percent to S$569.8 million [$419 million], as well as incre