Singapore-listed Keppel DC REIT has entered the Japanese data centre market with the acquisition of a JPY23.4bn (€133m) asset in Tokyo.

Keppel DC REIT would have a 98.47% interest in the multi-storey Tokyo Data Centre 1, while the remaining 1.53% interest in the property will be held by the parent company Keppel.

Keppel said the 190,166sqft asset was acquired at a 2.5% discount.

The property, completed in 2019, is leased on a triple-net basis to a Fortune Global 500 company and hyperscaler. 

Loh Hwee Long, CEO of the manager, Keppel DC REIT Management, said: “Japan is a core market and the addition of Tokyo Data Centre 1 will further strengthen our portfolio’s geographical, as well as income diversification.”

Post-acquisition, Keppel DC REIT’s assets under management will increase to S$3.8bn (€2.6bn) with a total of 23 data centres across 10 countries in Asia Pacific and Europe.

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