Keppel DC REIT acquires Dutch tenant for $1.55

Its indirect subsidiary had previously leased Almere Data Centre to the latter.

Keppel DC REIT has entered into a sale and purchase agreement (SPA) to acquire the entire issued share capital of Netherlands-based building materials firm Borchveste Almere for a purchase price of $1.55 (€1.00), an SGX filing revealed.

KDCR Almere, an indirect wholly-owned subsidiary of Keppel DC REIT and the owner of the data centre located at Almere, had previously entered into a ground lease to lease Almere Data Centre to the Borchveste Almere.

The latter’s sole business relates to a sub-lease entered into with a client for Almere Data Centre.

In conjunction with the acquisition, a subsidiary of Keppel DC REIT’s sponsor, Keppel Data Centres Holding (KDCH), has assumed responsibility for the expenses in relation to the Borchveste Almere.