Principal completes second data center acquisition in Europe
Transactions - SEPTEMBER 29, 2022

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Principal completes second data center acquisition in Europe

by Released

Principal Global Investors, through its dedicated real estate investment team, today announced it has acquired the Getronics Data Centre in Runcorn, United Kingdom, marking the second data center acquisition of the Principal European Data Centre Fund I.

The asset is 7.5 megavolt amperes, 45,000-square-foot data center leased to Getronics, a Dutch-headquartered global ICT integrator, serving the expanding greater Manchester data center market. It was purchased in an off-market sale-leaseback transaction, with Getronics committing to a 20-year lease.

The fund focuses on manage-to-core data center assets. At least 60 percent of the fund will be allocated to the core European markets of Germany, Netherlands, France, United Kingdom and Ireland, with up to 40 percent in other European markets such as Spain, Italy and Switzerland.

The acquisition follows the fund’s

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