Cromwell E-Reit dips toes into data centres; sponsor, EXS set up new fund

Fiona Lam

Published Mon, Jul 13, 2020 · 09:50 PM

Singapore

CROMWELL European Real Estate Investment Trust (Cromwell E-Reit), whose current portfolio is mostly made up of office and light industrial or logistics properties in Europe, is now planning to make its foray into the data-centre business.

On Monday, its manager said the trust has inked a heads of terms agreement with its sponsor Cromwell Property and Stratus Data Centres, to co-invest directly into 50 per cent stakes in two European data centre projects, subject to various milestones.

The first project is a two-stage, 100 megawatt (MW) data centre serving London. The six-acre (2.4-hectare) site is located on fibre-optic routes in the east of London, and will be powered by renewable ener…