PGIM Real Estate acquires 30-megavolt ampere data center development near Munich, Germany

PGIM Real Estate has acquired a property north of Munich, suitable for data center development, on behalf of its closed-end value-added fund European Value Partners (EVP) II.

“Strong and surging demand for data centers, combined with low supply and limited development opportunities in urban areas translate into a very attractive investment opportunity for long-term investors,” said Nabil Mabed, senior portfolio manager for European Value Partner. “Data creation, and thus global demand for data centers, is expected to grow by a yearly average of roughly 30 percent to more than 2,100 zettabytes in 2035, not least due to ongoing digitalization efforts and recent developments in artificial intelligence.”

The property is located in Unterschleissheim, in the Greater Munich area, between the city of Munich and Munich airport. A power supply of 30 megavolt-amperes has been secured during the acquisition process.

“Modern data center space with strong ESG charac