Singapore firm acquires Dublin data centre for €66m

Acquisition brings Keppel’s Irish presence to two data centres

Kappel DC Reit has acquired a second data centre in Dublin. Photograph: iStock

Kappel DC Reit has acquired a second data centre in Dublin. Photograph: iStock

 

A Singapore-listed real estate investment trust has acquired a data centre in Dublin for €66 million.

The acquisition of the centre in the Ballycoolin business and technology park is Keppel DC Reit’s second venture in Dublin. The 2,350sq m (25,200sq ft) data centre is currently more than 87 per cent leased. It was previously owned by Dataplex.

“This asset is a strategic addition to Keppel DC Reit’s portfolio given its strong tenant profile . . . Apart from enhancing its offering in a key data centre hub, the reit will be able to reap operational synergies from its existing data centre,” said Chua Hsien Yang, the company’s chief executive.

Funded by debt, this acquisition brings Keppel’s assets under management to $1.53 billion (€1.29 billion) with a lettable area of over 85,000sq m (917,000sq ft).

Keppel, which listed on the Singpore Exchange in 2014, principally invests in income-producing real-estate assets primarily used for data-centre purposes.