Ascendas Reit to buy 11 Europe data centres for S$904.6m

ASCENDAS Real Estate Investment Trust (Ascendas Reit) is looking to acquire 11 Europe data centres for S$904.6 million. The purchase will boost the Reit's exposure to data centres to 10 per cent of its total investment properties, from 4 per cent as at Dec 31, 2020.

The purchase consideration comprises £250.3 million (S$460.4 million) for four data centres in the United Kingdom and 276.9 million euros (S$444.3 million) for the remaining data centres: three in the Netherlands, three in France and one in Switzerland.

The vendor of the properties is Digital Realty Trust, a New York-listed data-centre Reit. William Tay, executive director and chief executive of Ascendas Reit's manager, said in a call to reporters and analysts on Wednesday morning following the announcement, that the proposed acquisition is expected to be completed "in the next 12 hours".