Keppel DC REIT has purchased a data center in Offenbach am Main, Germany, for €84 million ($103.3 million).
The four-story, 126,800-square-foot freehold facility is located near Frankfurt. It has energy-efficient features such as free cooling and has been certified by TÜV as a Level 3 Highly Available data center.
According to 451 Research, Frankfurt is experiencing high demand from hyper-scale cloud providers, managed service providers, as well as financial services and trading firms. Factors such as Brexit and the European Union’s General Data Protection Regulation are expected to further drive demand for quality data center space in top European markets.
The addition of maincubes data center extends the portfolio WALE from 9.1 years to approximately 9.8 years. With the acquisition funded by debt, the REIT’s aggregate leverage is expected to increase from 32.1 percent to 37.3 percent. Keppel DC REIT’s assets under management have increased to approximately $1.65 billion with aggregate lettable area totaling approximately 1.044 million square feet across 14 data centers.
