Principal Asset Management has acquired a third data centre for its European Data Centre Fund I for an undisclosed price.
The 24,755 sq m (circa 266,000 sq ft) logistics facility, which is located in the Schiphol area of Amsterdam, has simultaneously been leased to Switch Data Centers who will convert it into a state-of-the-art data centre with a capacity of up to 42MW.
Paul Lewis, director of European data centres at Principal Asset Management, said: “We are pleased to be working with Switch Data Centers given the company’s strong track record of operating in the Amsterdam market.
“We were particularly impressed by the market leading sustainability initiatives featured in the facility and the ways in which it will provide substantial benefit to the local community. Our investment in Amsterdam is a significant step forward as we create a high-quality pan-European portfolio of leased data centre assets.”
CBRE represented Principal Asset Management on the transaction.
