Lincoln Property‘s data center division, Lincoln Rackhouse collaborated with Sprott Korea Investment on the acquisition of a data center located in London’s data center submarket of Camberley. 45,000 square feet data center is Lincoln Rackhouse’s first venture outside the U.S. The transaction is a partial sale-leaseback with a Fortune 100 financial institution, which has signed a long-term lease for 50% of the facility. Lincoln Rackhouse will lease the remaining space and capacity of the facility to businesses or data center operators.
First venture outside the U.S.
According to the announcement, the demand for the data center is high among Korean institutional investors and operating companies, and it is increasing due to the expansion of IoT and Cloud services. The company also stated that increased need from hyper-scale, content, carrier, enterprise, and IT service have impacted the market, creating a healthy mix of wholesale and retail colocation supply. Martin Peck, Executive Vice President and Leader, Lincoln Rackhouse, said,
“We are very proud of the data center portfolio we’ve built in the United States. By adding a quality asset like this in London, one of the world’s top data center markets, we are taking our data center platform to new heights. To think this transaction was able to be successfully completed during these challenging times is not only personally inspiring, but it’s also a testament to the professionalism and dedication of all involved – our Lincoln and Sprott Korea teams, our attorneys, facility partners, and our seller.”
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