Digital infrastructure firm Equinix and PGIM Real Estate have entered into a $600m (€563.6m) US data centre investment venture, marking their second joint venture.
The two companies said they have teamed up to develop and operate SV12x, the first US xScale data centre in the Silicon Valley region of California.
The two-storey facility, located at Equinix’s Great Oaks data centre campus in San Jose, will be built out in two phases and is expected to provide more than 28MW of power capacity at full build-out.
PGIM Real Estate, which is investing on behalf of its global data centre strategy, owns an 80% equity interest in the joint venture alongside Equinix’s 20% equity interest.
PGIM Real Estate and Equinix first teamed up in October 2021 to establish a $575m joint venture to develop and operate two xScale data centres in Sydney, Australia.
To read the latest IPE Real Assets magazine click here.
