SINGAPORE (Oct 30): DBS is keeping its “buy” call on Keppel DC REIT with a price target of $1.14 on its plans to acquire a data centre hub in Germany with high barriers of entry.

Keppel DC REIT this week signed an agreement to acquire maincubes DC data centre, which is expected to be completed in 2018.

The purchase consideration is EUR84 million ($130 million), a 2.5% discount to valuation. Post completion, mainCubes DC will be leased back on a 15-year triple-net lease with annual rental escalations.

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