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Ascendas REIT to acquire 11 data centres in Europe for $904.6 mil

Atiqah Mokhtar
Atiqah Mokhtar3/17/2021 08:56 AM GMT+08  • 3 min read
Ascendas REIT to acquire 11 data centres in Europe for $904.6 mil
Post-transaction, A-REIT's investments in data centres will increase to $1.5 bil or 10% of its total portfolio.
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The manager of Ascendas Real Estate Investment Trust (A-REIT) has announced a proposed acquisition of a portfolio of 11 data centres located across Europe from subsidiaries of Digital Realty Trust, Inc. for a total consideration of $904.6 million.

Four of the data centres are located in the UK, three are located in the Netherlands and France respectively, while the remaining centre is located in Switzerland. Net lettable area for the entire portfolio totals 61,637 square meters.

The total acquisition cost of S$960.0 million (inclusive of transaction costs of $55.4 million and fees payable to the manager of $9 million), will be financed with proceeds from the REIT’s $1.2 billion equity fund raising in November 2020, debt financing and/or internal cash resources.

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