The Asia Pacific Cities Fund (APCF), a part of Nuveen’s Global Resilient Cities series, has acquired a data center in Hong Kong, the fund’s first investment in the city, and three multifamily properties in Osaka, Japan.
The APCF seeks durable income and capital appreciation from a balanced and diversified portfolio of real estate investments whose properties are located in or around a defined list of investment cities in Asia Pacific selected for their resilience.
The Cargo Consolidation Complex is a 100 percent occupied data center power shell totaling 270,000 square feet of GFA in the Kwai Chung district of Hong Kong. APCF acquired the asset for $371.7 million in a rare off-market opportunity.
“Hong Kong is a critical financial and technology hub and one of the most mature data center markets in Asia with rich network connectivity, robust infrastructure and healthy market fundamentals, making this an important strategic investment for the Asia Pacific
