Keppel DC REIT has entered into agreements with Guangdong Bluesea Data Development Co. Ltd. (Bluesea) and its parent company, Guangdong Bluesea Mobile Development Co. Ltd., to acquire two data center facilities, on a fully fitted basis, in Jiangmen, Guangdong Province, China for S$297.1 million ($213.5 million).
The two data center facilities will be named Guangdong Data Centre 2 and Guangdong Data Centre 3 (Guangdong DC 2 and Guangdong DC 3) upon completion of the acquisition. Guangdong DC 2 is fully fitted and payment will be made in full at legal completion. Guangdong DC 3 will be fitted out, with its expected completion to take place by third quarter 2023. While partial payment will be made for Guangdong DC 3, Bluesea will pay Keppel DC REIT rent for the building shell and an interest on the partial payment, with the remainder to be paid when the fit-out works are completed. The properties will be leased to Bluesea on a triple-net basis for 15 years