Keppel DC REIT announced the acquisitions of two data center buildings in Eindhoven, the Netherlands, for 37.2 million euros (S$59.9 million) to further strengthen its foothold in the European data center market.
The third asset in Netherlands
The freehold property, located in Eindhoven’s largest business park De Hurk, is named Eindhoven Campus. This building is Reit’s third asset in the Netherlands and has a combined net lettable area of 83,841 square feet. Furthermore, the data center space is leased to a global leading IT services provider.
A manager from Keppel DC REIT said that with the addition of Eindhoven Campus, Keppel DC Reit’s portfolio occupancy rate will improve to 98.1 percent from 98 percent as of June 30, 2021 WALE remains unchanged at 6.5 years.
Eindhoven Campus’ market value was 35.4 million euros (S$57.1 million), based on the valuation on July 7 by an independent valuation firm appointed by the trustee of the Reit.