European asset management firm Avignon Capital has paid €11.55 million ($12.88 million) for the 7,450-square-meter (80,191-square-foot) T-Mobile data center in Amsterdam.
The seller was Somerset Capital Partners.
The Netherlands is considered to be one of the Tier 1 markets for European data centers, alongside London. Avignon said demand for data centers in Amsterdam in particular has been high, driven by the continued drawdown of space and power resulting from the local presence of large cloud services companies.
“This property benefits from a globally operating tenant, providing strong security of income,” said Jack Pearce, investment analyst at Avignon Capital. “Coupled with the general backdrop being supportive of data center assets, we anticipate that this will provide attractive income returns.”
