Invesco Real Estate has acquired its first data centre asset in Europe, a 22,300sqm facility in Wissous, a few kilometres south of the Paris ring road.

The asset, acquired on behalf of one of Invesco’s long-standing separate accounts, was sold by French real estate company Argan, and is let to data centre operator CyrusOne.

Alexandre Rochet, director – investments, France at Invesco Real Estate, said: “This will be our first data centre investment in Europe. It combines long-term income with a captive tenant in a strongly undersupplied market.

“Data centres are one of our conviction investment themes with strong market fundamentals, high barriers to the development of new supply and continuously growing demand, driven by broad migration to the cloud, artificial intelligence and the transition to a fully digitised economy.”

Toby Simon, managing director, co-head of separate mandate accounts at Invesco Real Estate said: “We are delighted to be able to secure the third investment for our long-standing client within 2024, not only allowing them to place capital at a time when asset pricing has returned to very attractive levels but also securing future proof income with long-term value growth potential in an irreplaceable location.”

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