Here's how Keppel DC REIT will reach its $2b asset target

Its B10 acquisition raised assets to $1.5b.

Keppel DC REIT's acquisition of the B10 data centre (DC) in Dublin, Ireland boosted its total assets to $1.5b, close to its target of $2b.

According to CIMB, in order for the REIT to achieve the target by 2018, it would have to acquire $340m more assets from now until next year.

Its sponsor Keppel Telecommunications & Transportation (Keppel T&T) currently ha sone DC, Almere 2. It is right next to Keppel DC REIT's Almere 1 in the Netherlands/

Almere 2 was completed in 2015 with a net leasable area (NLA) of 118,000 sqft. CIMB expects the DC to be priced $140m, in line with Almere 1's price of $1,163 psf.

"We believe that the asset could stabilise in 2018 and would be ready for acquisition," CIMB analysts Yeo Zhi Bin and Lock Mun Yee said.

Yeo and Lock added that the REIT needs to acquire third-party assets worth $200m to meet its target.

Keppel DC REIT continues to eye properties in North Asia and Europe.