DREAM Closes Japan Datacenter Fund
Diamond Realty Management (DREAM), a wholly owned subsidiary of Mitsubishi Corp., has closed the DREAM Datacenter Fund with approximately ¥10 billion (US$103 million) in equity. Investors in this fund include Mitsubishi Corp., major domestic institutional investors, and pension funds.
With leverage of about 60 percent, the fully seeded core fund will have a buying power of ¥25.8 billion to invest in Japanese data centers.
The fund invested in three datacenters, two in the Greater Tokyo Metropolitan area and one in Sapporo, Hokkaido, all of which have long-term lease contracts with one of the major telecom companies. All centers are equipped with robust security, reliable emergency power supply, and state of the art quake-resistant systems.
Since its establishment in 2004, DREAM has launched six private real estate funds