SINGAPORE (Mar 15): The manager of Keppel DC REIT has entered into an agreement to acquire the remainder of the 999-year leasehold interest in Keppel DC Dublin 1.

The agreed value for the acquisition is EUR 30 million ($48.1 million).

Prior to the transaction, KDCREIT already held a leasehold interest in Keppel DC Dublin 1 which expires on 11 April 2041.

Following the acquisition, Keppel DC REIT will own the leasehold interest in the property up to the end of year 2998, and the long tenure will allow the REIT to be more agile in its investment strategy and provide longer term certainty to its clients in the data centre.

The property is located at Citywest Business Campus on Naas Road, approximately 14 kilometres southwest of Dublin city centre.

Completion of the acquisition is expected to take place within the first half of 2020.

Units in Keppel DC REIT are down 1 cent at $1.40.