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Transactions - AUGUST 5, 2020

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Telstra sells data center site in Melbourne to Centuria Industrial REIT

by Kali Persall

Australia’s Telstra has sold a data center site in Melbourne to Centuria Industrial REIT under a triple-net lease-back arrangement.

The 3.2-hectare (7.9-acre) site includes a new 6.1-megawatt facility and an older 6.6-megawatt data center, as well as eight other buildings, according to Data Center Dynamics. Centuria paid Telstra A$417 million ($297 million) and gave the company a 30-year lease with two options to extend for 10 years for a total of 50 years.

The deal is expected to reach completion by the end of August.

“Data centers are an incredibly important part of the digital ecosystem and we continue to own and operate world-leading facilities in Australia and oversea,” said Andrew Penn, CEO of Telstra. “As part of T22, we have an ambition to monetize up to $2 billion worth of assets to strengthen our balance sheet.”

Penn added: “This deal means we have now reached over $1.5 billion.”

T22 is Telstra’s restructuring str

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