AXA Investment Managers - Real Assets has invested ¥22bn (€180m) to buy a data centre in Tokyo, lifting the manager’s acquisitions this year in Japan to ¥173bn.
AXA IM - Real Assets said it bought the 20,000sqm facility located in Koto Ward on behalf of clients.
The manager said following the latest data centre deal, as well as a recently acquired ¥70bn residential portfolio in Tokyo, AXA IM - Real Assets has through six transactions completed ¥173bn of data centre, logistics and residential acquisitions in Japan this year.
Laurent Jacquemin, head of Asia-Pacific at AXA IM - Real Assets, said: “This acquisition offered the rare opportunity to purchase a large scale and high quality, strategically located data centre in a market suffering from a chronic lack of supply, with just two other centres offering over 10,000sqm of space in the district.
“The investment aligns well with our global strategy to invest in institutional quality long-term assets with income underpinned by structural changes to society, such as those within the digital infrastructure sector, where demand for data storage, in particular, has been further exacerbated by the widespread adoption of remote working and expanding e-commerce penetration as a result of the global pandemic.”
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