Areim real estate fund acquires major stake in EcoDataCenter

Nordic real estate owner and fund manager Areim, through its third real estate fund, has become the principal owner of Swedish developer of data centers EcoDataCenter by a directed share issue. Areim paid $22.2 million.

EcoDataCenter is a climate-positive, green data center. Its first “carbon-positive” data center is located in Falun in Dalarna.

“The dramatic rise in demand for data processing requires enormous amounts of energy and Sweden has a unique potential to build an industry around cost-efficient and green data processing,” said Lars Thunell, chairman of EcoDataCenter’s board of directors.

Areim founder Leif Andersson also said that the acquisition provides them, “with the financial muscle to acquire existing data centres from other large companies to consolidate the Nordic market, and expand our concept with carbon dioxide-positive data centres.”

Andersson added, “The collaboration with EcoDataCenter means we are entering a rapidly expanding industry with substantial future potential, and our shared expertise will enable us to create a new investment segment in the Swedish real estate market.”