Barings has acquired a Digital Realty data center in Stockholm from Pictet Alternative Advisors and Brunswick Real Estate, according to Data Center Dynamics.
Barings acquired Vanda 3, a 63,000-square-meter (678,100-square-foot) mixed-use property, on behalf of a pan-European core property strategy.
In 2020, Pictet and Brunswick acquired the site, which includes data center, printing, warehouse and office space. The companies have since initiated two major sustainability projects that are expected to reduce energy consumption by 60 percent.
“We are very pleased with the partnership with Pictet and our achievements during a fairly short period of time, not least on the energy side, where the environmental footprint of the property will be reduced significantly,” said David Hävermark, partner at Brunswick. “There is still a lot of value to be created, and we now look forward to continue developing the property together with Barings.”