Keppel DC Reit acquires $59.9m data centre in Netherlands

The acquired asset is the third data centre by the company in the country.

Keppel DC Reit purchased its third data centre in the Netherlands for $59.9m (€37.2m), a press statement released today said.

The data centre will be renamed Eindhoven Campus. It is composed of a property with two data centre buildings in De Hurk, the largest business centre in Eindhoven and was bought from MCAP Global Finance LLP, the European branch of New York-based Marathon Asset Management. Also included are a warehouse and an office building. 

Anthea Lee, CEO of Keppel DC REIT Management, stressed how this acquisition marks a foothold in the European market.

"Being one of the top four data centre markets in Europe and the eighth largest data centre market globally, the Netherlands is a strategic market for Keppel DC REIT. We are pleased to be able to add to our portfolio quality and green data centre located in the key technology hub of Eindhoven. With this acquisition, we also diversify our portfolio base with the addition of a well-established data centre client and we look forward to establishing strong ties with this client. With this asset, we continue to leverage the strong fundamentals of the Netherlands to provide our investors with stable and sustainable returns.” 

Based on a valuation done on 7 July 2021 by CBRE Valuation & Advisory Services B.V, the property’s market value stands at $57.1m (€35.4m).